The $1.6 billion 63-story tower at Angels Landing would become the third-tallest building in Los Angeles in time for the 2028 Olympic and Paralympic Games ©Handel Architects

Proposals to create a $1.6 billion (£1.2 billion/€1.4 billion) hotel and retail complex in Los Angeles in time for the 2028 Olympic and Paralympic Games have cleared a major hurdle after receiving the backing of city planning officers.

The Angels Landing project features two towers with the highest set to become the third-tallest building in the Californian city.

The 63-story and 42-story towers in downtown Los Angeles would each hold a luxury hotel accommodating more than 250 rooms.

Victor MacFarlane, President and chief executive of MacFarlane Partners and R. Donahue Peebles, chairman and chief executive of The Peebles Corporation are behind the proposals.

The developers confirmed that the plans had received the approval of city planning officials as they aim to complete the complex before Los Angeles stages the Games in six years’ time.

The Angels Landing project is set to feature a luxury hotel with 250 rooms ©Handel Architects
The Angels Landing project is set to feature a luxury hotel with 250 rooms ©Handel Architects 

"With Angels Landing will come desired levels of diversity and inclusion to LA’s hospitality industry and the expansive services sector that supports the local hotel industry," said MacFarlane.

"It’s about time the economic benefits generated by massive projects like this are provided to people who are reflective of the project."

It has been reported that the developers have agreed to subsidise rents for 78 apartments, while housing at the complex will also be available at "aspirational" prices.

"We are focused on bringing increased diversity and equity to LA through affirmative development, and the transformative impact of empowerment and economic inclusion from Angels Landing will be felt by an array of businesses including African American, Latino and Asian-owned," added Peebles.

"We have committed to a goal of 30 per cent minority and women-owned business contracting across the board for our project in excess of over $480 million (£365 million/€430 million), and we're raising the bar for economic inclusion for development projects in LA."