Headed by CEO Michael Rosenfeld, Woodridge Capital Partners will begin a $2.5 billion mixed-use development in Los Angeles’ Century City.
The 1.5-million-square-foot development will include two 46-story luxury residential towers with 290 units, to be conceived by New York-based Pei Cobb Freed & Parters Architects; F&B outlets; 100,000 square feet of retail space; a centrally located 2-acre garden; and the renovation and rebranding of the Hyatt Regency Century Plaza as the Century Plaza Hotel. Hyatt will no longer manage the property upon completion, though a new operator has not yet been named.
Other project consultants include Gensler, Southfield, Michigan-based Harley Ellis Devereaux, and locally based firms Marmol Radziner and Rios Clementi Hale Studios.
Located behind 20th Century Fox Studios, the crescent-shaped hotel was originally conceived by Minoru Yamasaki in 1966 and has since hosted numerous celebrity guests and every U.S. president since its debut. It will now be restored with 394 guestrooms and suites, 63 residences, and an open-air lobby designed by New York-and Toronto-based Yabu Pushelberg. The entire project is slated for completion in early 2018.
The site is one of several Century City projects, such as the $800 million expansion of Westfield Century City Mall and the addition of more than 10 million square feet of commercial, residential, and entertainment venues.
