St. Regis Los Angeles Building to be Razed
BEVERLY HILLS, CA, October 21, 2005. The 32-story building that housed the St. Regis Los Angeles Hotel here will be razed and replaced with a new condominium apartment tower, according to press reports.
The tower was part of the two-building Century City complex. The second lower tower, which most recently was operated as a Westin, will continue to operate as a hotel, though it is in the process of being converted to a Hyatt Regency.
When the St. Regis ceased operations, plans originally called for converting the existing building to condo residences, rather than demolishing the structure and beginning again. The plan reflects the demand--and high prices being paid--for condo apartments in major cities, including New York, Chicago, and San Francisco in addition to Los Angeles. In many instances, cities are losing hotel room inventory as guestrooms are converted are converted to condo units due to the strength of the residential market.
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