LOS ANGELES (CBSLA.com) — Chinese real estate developers plan to build a new $700 million mixed-use tower project across from the Staples Center that will include the W Hotel.

A 250-room W Los Angeles Downtown, part of the Starwood family of hotels, will replace the existing Luxe Hotel, Shenzhen Hazens Real Estate Group Co. executives said Monday.

The planned hotel, set to open in 2019, will be on the northeast corner of Hazen’s tower project that also includes 650 condo units and 80,000 square feet of retail and restaurant space.

The full project will include three towers built over two phases on a block in the South Park area bounded by Figueroa and Flower streets between Olympic Boulevard and 11th Street. Construction on the tower project is set to start in 2017.

When completed, W Los Angeles Downtown will be the brand’s third hotel in the metropolis, joining the W West Beverly Hills and W Hollywood.

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