Century Plaza Hotel Project Approved
Posted by Jennifer Alcaraz on Jan 16, 2013 - 8:25:02 PM
WESTWOOD—The $2 billion Century City development project received the approval needed on Tuesday, January 15. The council unanimously approved a 15-year development agreement and an environmental impact report for the 1.5 million-square-foot mixed use as well. The architecture firms Pei Cobb Freed, Gensler and Marmol Radziner and Associates are in charge of the project. The landscape architect is Rios Clementi Hale Studios.
Under the plan, there will be restoration of the famous hotel in the intersection of the Avenue of the Stars and Constellation Boulevard, including 63 sophisticated apartments and 394 modernized rooms. The project also includes two 46-story residential towers, a 100,000-square-foot plaza with various shops and restaurants, as well as two acres of open space with walkways and fountains. The project will connect the residential towers and hotel to Westfield Century City mall, including the Metro Subway Station for the planned Westside Subway Extension from Union Station downtown to Westwood.
Supporters of the plan mentioned how there will be a creation of 3,500 jobs, with construction scheduled to start next year.
Michael Rosenfeld, CEO and founder of Woodridge Capital Partners, indicated that the goal was to create a pedestrian-friendly, transportation-oriented, sustainable mixed-us project for the service of the community. The goal is to connect Century City and bring economic growth and jobs to Los Angeles. Rosenfeld purchased the hotel and property back in 2008 with Oaktree Capital Management as the group Next Century Associates.
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