Century Plaza Hotel Set to Close
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The historic Century Plaza Hotel in the heart of Century City will close on March 1 to begin a $2.5 billion restoration project.
Michael Rosenfeld, chief executive of Los Angeles-based Woodridge Capital Partners who is leading the project said the hotel is expected to re-open in early 2018.
Situated at the intersection of Avenue of the Stars and Constellation Boulevard, the 1.5 million square foot hotel and mixed use development is adjacent to the Westfield Century City Mall and more than 10 million square feet of offices, residences, restaurants, retail and entertainment venues.
The hotel with its iconic crescent shape, designed by Minoru Yamasaki, will be restored with 394 guest rooms and suites and 63 residences. The open air lobby will be transformed by design firm Yabu Pushelberg connecting public plazas and fountains to a central two-acre garden surrounded by restaurants and retail.
In total, there will be 100,000 square feet of retail on the site. The two 46-story towers designed by Pei Cobb Freed will feature 290 luxury residences completing the project.
Rosenfeld also announced the successful completion of $450 million in funding for the project.
“Mayor Eric Garcetti and his staff were instrumental in paving the way with their strong international outreach,” said Rosenfeld, adding that the project is expected to generate thousands of construction and permanent jobs and substantially increase tax and sales revenues to the city.
Hyatt will no longer manage the hotel after it closes in March, but an agreement with Unite Here Local 11 provides its members with an opportunity to return to the hotel upon its reopening, Rosenfeld said.
First opened in 1966, the Century Plaza hotel has hosted a wide range of politicians, foreign dignitaries and celebrities over the years, as well as every United States President since its opening. The hotel was the residence of choice for President Ronald Reagan, who stayed at the hotel so often that the press named it the “Western White House.”