City Council

(10) 25-0778 CD 14 ORDINANCE SECOND CONSIDERATION relative to authorizing the execution of the Development Agreement by and between the City of Los Angeles and NREA-TRC 700 LLC, relating to real property in the Downtown Community Plan Area, located at 700 South Flower Street; 700 West 7th Street; and 711 South Hope Street. Recommendation for Council action, SUBJECT TO THE APPROVAL OF THE MAYOR: PRESENT and ADOPT the accompanying ORDINANCE dated June 2, 2026, authorizing the execution of the Development Agreement by and between the City of Los Angeles and NREA-TRC 700 LLC, relating to real property in the Downtown Community Plan Area, for The Bloc, a mixed-use development comprised of a 26-story hotel and a 33-story office building on the northern portion of the site, and a nine-story podium building containing commercial uses, six levels of above-ground parking, and two levels of subterranean parking on the southern portion of the site. The Project proposes the development of a residential tower with up to 466 units, enclosure of the existing rooftop parking level, and the addition of two above-ground parking levels above the existing nine-story podium building. All existing uses would remain, excluding 24,342 square feet of theater and retail uses (located in the podium building) which would be demolished to accommodate the new residential tower. Once constructed, the Project and existing uses would total 1,894,988 square feet of floor area on a 4.3-acre site, and have a maximum height of 710 feet, or 53 stories; for the properties located at 700 South Flower Street; 700 West 7th Street; and 711 South Hope Street.