"It's the first skyscraper in downtown Los Angeles since the early 1990s."

It's not every day that Los Angeles welcomes a new addition to its skyline.

And this week, the city did it in style with a gala for the 54-story Ritz-Carlton hotel-condo tower that is the centerpiece of L.A. Live and opens for business next month.

The guest of honor was Tim Leiweke, president and chief executive of AEG, which built the $2.5-billion L.A. Live and has been at the center of the effort to develop the area around Staples Center into a sports and entertainment hub.

The blue-hued tower is a big part of the plan. It's the first skyscraper in downtown Los Angeles since the early 1990s.