L.A. council OKs $2B mixed-use project

A $2 billion plan to build twin 46-story residential skyscrapers, a retail plaza and more than two acres of open space and restore the Hyatt Regency Century Plaza Hotel in Los Angeles has been approved by the City Council. The 1.5-million-square-foot project is projected to create more than 3,500 construction and permanent jobs. Read the Commercial Property Executive story here.