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CENTURY CITY, CA-New York City-based developer Related has razed the St. Regis Hotel and has started construction on its 42-story condominium project, called the Century. The 140-unit development, designed by Robert A.M. Stern, will feature condos from 2,400 sf to 10,000 sf on a four-acre site on the Avenue of the Stars adjacent to the Hyatt Regency Century Plaza Hotel.
Nearby on the 41st floor of Century City's Century Plaza Towers at 2049 Century Park East, Related has opened an 8,000-sf sales and design center for the condo project, which is expected to be completed in 2009. The sales office overlooks the site where the Century is being constructed.
The developer is not quoting prices for the luxury units, but previous GlobeSt.com reports pegged prices at $2.5 million to $25 million. Related bought the St. Regis from the Phoenix-based Pivotal Group for about $123 million.
Related notes that the construction project will maximize the recycling of existing building equipment and materials, including all steel, concrete, copper, and exterior skin panels. The company also will protect and temporarily store 164 old-growth trees from the site and then return them to the project during construction.
The Century condominiums will offer a level of luxury that will be remarkable even on the Westside of Los Angeles, where a number of upscale projects have been built over the years. Related notes that the project will include "acres of gardens" designed by landscape architect Pamela Burton for the private use of the Century residents.
Related has named principals Valerie Fitzgerald and Charlotte Bjorlin D'Elia of Premiere Property Partner as marketing consultants for the Century condominiums. Along with Premiere, the Related sales team includes Laura Cordovano and Mary Ann Osborn, co-directors of sales for the project.
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