15.JMB/5″/mike1st/mark2nd
No. 15
New Century City Tower Approved
It was a hard-fought battle for JMB Realty Corp. this year, but it apparently has paid off. The Chicago-based real estate company won approval from the Los Angeles City Council in June to build a 704,000-square-foot, 38-story office tower on the last available parcel of land in Century City despite opposition from surrounding homeowners and Councilman Mike Feuer.
Feuer and several local homeowner groups argued that the developer did not conduct sufficient tests to determine traffic impacts. But JMB convinced the council that it plans to alleviate congestion by spending $6.4 million on new controls. Specifically, the developer agreed to have new traffic control systems installed at 73 intersections throughout the area. JMB also promised to alleviate traffic congestion by using a technology called Adaptive Traffic Control System, which involves street-level sensors to monitor traffic and adjust the timing of the signals accordingly.
The tower, dubbed Constellation Place, will be constructed on the corner of Constellation Boulevard and Century Park West, across the street from the Century City Shopping Center. Despite rents that are likely to be among the highest in the city, interest among potential tenants already is high.
Jessica Toledano
