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Published
Dec 11, 2015
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Century Plaza Hotel development project begins March 2016

Published
Dec 11, 2015

The Century Plaza Hotel $2.5 billion development project in Los Angeles, CA will break ground in March 2016 with a planned re-opening in early 2018. Once complete, the almost 12 million square-feet footprint will feature a newly designed 5-star 400 room hotel, an expanded Westfield Century City Mall, and over 10 million square feet of offices, residences, restaurants, retailers and entertainment.


Century Plaza Hotel and adjoining development project - Photo: Business Wire


Michael Rosenfeld, founder and CEO Woodbridge Capital Partners, LLC, is spearheading the Century Plaza development with Next Century Associates, LLC, a Woodbridge-owned company. Rosenfeld recently announced that the project had successfully raised $450 million in EB-5 funding, staying, “Mayor Eric Garcetti and his staff were instrumental in paving the way with their strong international outreach.”
 
Next Associates has partnered with LA City Councilman Paul Koretz, the Los Angeles Conservancy, the National Trust for Historic Preservation, neighboring homeowners associations, Century City business stakeholders and organized labor to complete the massive project, which has so far received universal support from stakeholders.

Since its opening in 1966, the Century Plaza hotel has hosted every U.S. President, as well as foreign dignitaries, politicians, and celebrities over the years. Referred to as the “Western White House” by the press because former President Ronald Reagan stayed at the hotel frequently.  The hotel has also hosted the Grammy Awards and in 1969 the “Dinner of the Century” honoring the first astronauts to reach the moon.
 

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