$2.5 billion Century Plaza project moves toward 2020 launch in LA [Infographic]

A rendering of what the Century Plaza’s future holds. (Picture: Los Angeles Times)

An update to the iconic crescent-shaped hotel in Los Angeles will see the addition of 63 hotel residences and two 44-storey high-rise condo towers.

An ambitious $2.5 billion construction project in Los Angeles is moving forward with plans that centre on a landmark crescent-shaped hotel in that area, a hotel which has played host to presidents and any number of celebrities over the years.

The developer had suggested demolishing the hotel at one point, but after working with architectural preservation groups, neighbouring homeowners and other stakeholders the iconic building was saved from this fate.

News broke this week that Woodridge Capital Partners has announced the hotel, hotel residences and some of the new retail space will open in the spring.

This, of course, marks a new lease on life for a landmark, historic Los Angeles hotel which has spent the past several years with its future in jeopardy.

The Century Plaza Hotel

In terms of both size and scope of vision, there are few developments in L.A. now which top the Century Plaza.

The property has been under development for a while, but it was not always certain that the hotel would be part of it moving forward.

At one point, developers wanted to build two 50-storey condo towers in the place where the hotel stands, a plan which sparked a backlash. Now, however, the hotel is a centrepiece.

In fact, the updated project calls for revamping the 19-storey hotel (which is now called the Fairmont Century Plaza Hotel), adding 63 hotel residences and building two 44-storey high-rise condo towers with thousands of square feet of retail, restaurant and lifestyle space.

All told, once completed the hotel will have a total of 400 rooms, which marks a decrease from the 726 it once had. This space is not lost however, it is being transformed into the residences.

The residences at the Century Plaza

The hotel residences are a new and glamorous addition to the property.

Between the massive condo towers, 268 homes will have floor-to-ceiling windows, as well as amenities such as marble lobbies, wine cellars, screening rooms, a cabana-lined pool and a team of concierges, butlers and valets.

While the hotel and some of the retail areas will open in the spring, the homes won’t be completed until spring 2021.

Sales of the hotel residences, however, are currently underway, starting at $2 million and going high above $50 million.

According to the online database TOPHOTELCONSTRUCION, more than 40 new hotels will open their doors in Los Angels during the next few years:

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