Century Plaza Spared

The historic Century Plaza Hotel in Los Angeles is saved from the wrecking ball thanks to an agreement between preservation groups and the partnership that owns the building.

Michael Rosenfeld, a developer with hotel owners Next Century Associates, and partners have agreed to preserve the 19-story landmark building instead of replacing it with hotel/condo towers.

The agreement will allow Next Century to build a mix of homes, offices and shops behind and to the sides the hotel.