{"id":1004050259,"date":"2012-09-17T10:53:00","date_gmt":"2012-09-17T18:53:00","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=68677"},"modified":"2022-12-05T19:40:52","modified_gmt":"2022-12-06T03:40:52","slug":"city-planning-commission-approves-hyatt-regency-century-plaza-hotel-redevelopment","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/city-planning-commission-approves-hyatt-regency-century-plaza-hotel-redevelopment\/","title":{"rendered":"City Planning Commission Approves Hyatt Regency Century Plaza Hotel Redevelopment"},"content":{"rendered":"<p>By Alex Girda, Associate Editor<\/p>\n<p>The efforts of area homeowners, conservation groups and local officials who have championed the Hyatt Regency Century Plaza Hotel\u2019s redevelopment plan have been rewarded. The Los Angeles City Planning Commission recently approved developer Next Century Associates\u2019 comprehensive proposal to turn the hotel they own into a new focal point for Century City.<\/p>\n<p>Next Century Associates is an entity created through the partnering of Woodbridge Capital Partners with funds managed by Oaktree Capital Management L.P. Funds were previously supplied by D.E. Shaw, which was replaced by Oaktree in 2011.<\/p>\n<p>The project planned for the <a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/09\/Hyatt-Regency-Century-Plaza-photos-Hotel.jpeg\"><img decoding=\"async\" loading=\"lazy\" class=\"alignleft size-medium wp-image-68678\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/09\/Hyatt-Regency-Century-Plaza-photos-Hotel.jpeg\" alt=\"\" width=\"300\" height=\"248\" \/><\/a>Hyatt Regency Century Plaza redevelopment calls for 1.5 million square feet of mixed-use space to be constructed on a six-acre site that will include a fully renovated 394-key hotel, as well as 63 residences. Two 46-story residential towers designed by Pei Cobb Freed will comprise the\u00a0residential component of the redevelopment initiative. Retail construction with shops and restaurant spaces totaling 100,000 square feet will also be constructed. Two acres of public open space featuring fountains and courtyards will tie the Next Century project together.<\/p>\n<p>According to Michael Rosenfeld, managing partner of Next Century, the redevelopment of the Hyatt Regency Century Plaza Hotel will \u201ccreate a pedestrian friendly, transportation oriented, sustainable mixed-use project that will serve the entire community, connect the elements of Century City and bring economic growth and jobs to Los Angeles.\u201d<\/p>\n<p>Photo courtesy of<em> booked.com\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Alex Girda, Associate Editor The efforts of area homeowners, conservation groups and local officials who have championed the Hyatt Regency Century Plaza Hotel&rsquo;s redevelopment plan have been rewarded. The Los Angeles City Planning Commission recently approved developer Next Century Associates&rsquo; comprehensive proposal to turn the hotel they own into a new focal point for [&#8230;]<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1594,21742],"tags":[1815],"class_list":["post-1004050259","post","type-post","status-publish","format-standard","hentry","category-los-angeles","category-latest","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>City Planning Commission Approves Hyatt Regency Century Plaza Hotel Redevelopment - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/city-planning-commission-approves-hyatt-regency-century-plaza-hotel-redevelopment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"City Planning Commission Approves Hyatt Regency Century Plaza Hotel Redevelopment\" \/>\n<meta property=\"og:description\" content=\"By Alex Girda, Associate Editor The efforts of area homeowners, conservation groups and local officials who have championed the Hyatt Regency Century Plaza Hotel&rsquo;s redevelopment plan have been rewarded. The Los Angeles City Planning Commission recently approved developer Next Century Associates&rsquo; comprehensive proposal to turn the hotel they own into a new focal point for [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/city-planning-commission-approves-hyatt-regency-century-plaza-hotel-redevelopment\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-09-17T18:53:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-06T03:40:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/09\/Hyatt-Regency-Century-Plaza-photos-Hotel.jpeg\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/city-planning-commission-approves-hyatt-regency-century-plaza-hotel-redevelopment\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/city-planning-commission-approves-hyatt-regency-century-plaza-hotel-redevelopment\\\/\"},\"author\":{\"name\":\"Anca Gagiuc\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"headline\":\"City Planning Commission Approves Hyatt Regency Century Plaza Hotel Redevelopment\",\"datePublished\":\"2012-09-17T18:53:00+00:00\",\"dateModified\":\"2022-12-06T03:40:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/city-planning-commission-approves-hyatt-regency-century-plaza-hotel-redevelopment\\\/\"},\"wordCount\":245,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/city-planning-commission-approves-hyatt-regency-century-plaza-hotel-redevelopment\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2012\\\/09\\\/Hyatt-Regency-Century-Plaza-photos-Hotel.jpeg\",\"keywords\":[\"National\"],\"articleSection\":[\"Los Angeles\",\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/city-planning-commission-approves-hyatt-regency-century-plaza-hotel-redevelopment\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/city-planning-commission-approves-hyatt-regency-century-plaza-hotel-redevelopment\\\/\",\"name\":\"City Planning Commission Approves Hyatt Regency Century Plaza Hotel Redevelopment - 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