Wednesday, August 11, 2010
After backing down from a contentious proposal to demolish the Hyatt Regency Century Plaza hotel, the owner has unveiled plans to construct a high-rise real estate development next to the Space Age landmark that would transform the tenor of Century City's streets and dramatically alter the skyline.
The $1.5-billion proposal calls for two 46-story skyscrapers holding hundreds of condominiums and offices to be built behind the renowned hotel on Avenue of the Stars. Nearly half of the guest rooms would be replaced by luxury condos as part of a top-to-bottom makeover.
A large portion of the lobby would be hollowed out and left open in a move to connect the new buildings, shops and plazas with nearby streets and improve the flow of pedestrians. Planning and construction are slated for completion by 2014.