The new hotel is a luxury brand of the Hilton chain, and is named for the company's founder. It's the only Conrad property in California and is considered the flagship of the brand's West Coast offerings. It sports more than 300 rooms and five dining spots within its 20-story tower.
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It is part of The Grand LA complex, a Gehry-designed destination that sits right across the street from Gehry's Walt Disney Concert Hall in the Bunker Hill neighborhood. The Grand LA is a high-end hub for shopping, dining and living, with an entertainment plaza and a 39-story residential tower.
Garcetti describes it as the culmination of a Bunker Hill development plan that reaches all the way back to the opening of the Museum of Contemporary Art down the street in 1979.
"To get from MoCA to Disney took 24 years," Garcetti told the crowd at Wednesday's ribbon cutting. "And from Disney Hall to today, another 19."
City and county officials are quick to point out that The Grand LA project is not designed solely for the wealthy, but that 20% of the residences are designated as affordable-rate units.
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"We also insisted on local hires, so people around the area can benefit economically from these good-paying jobs," said Los Angels County Supervisor Hilda Solis.
The Conrad actually started taking guests last week, but wanted to get the official ribbon cutting done before Major League Baseball's All-Star Game, which is slated for Tuesday at LA's Dodger Stadium.