Los Angeles Approves $2 Billion Redevelopment Plan for Century City Area

The Los Angeles City Council has approved a $2 billion plan to redevelop the Hyatt Regency Century Plaza Hotel and build two 46-story residential towers as part of a 1.5 million-square-foot mixed-use project, according to the Los Angeles Times. Construction, which will begin in early 2014, also will include the development of a 100,000-square-foot retail plaza with more than two acres of public space. The hotel, which opened in 1966 and currently has 726 rooms, will be cutting that number down to 394 guest rooms and 63 residences.