$2B Hyatt Regency Project Wins LA Council's Blessing

Law360, New York (January 17, 2013, 2:45 PM EST) -- The Los Angeles City Council on Tuesday approved a $2 billion plan to restore the Hyatt Regency Century Plaza hotel and add two new 46-story mixed-use towers — possibly the largest redevelopment project to hit the city in about five years.

In a unanimous vote, the 14-member council certified the project's environmental impact report and greenlighted a 15-year development agreement for the massive project, which will bring new residential, retail and dining space to the Century City area. Spearheading the development is Next Century Associates LLC,...
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