News from Kelemen Real Estate
A Newsletter about Century City Living
Volume 8 Number Five	May, 2010
Why Choose Century City   Upscale living in Tinseltown's back lot - L.A. Times

Henry & Dolores say, "Don't buy...invest" The economic dynamics have exploded during the past few weeks. There are six major Century City Condominium complexes in Century City. These developments are considered the best location in Los Angeles Condominium living. The 6 complexes are Century Park East Condominiums, Century Tower Condominiums, Le Parc Condominiums, Century Hill Condominiums, Park Place Condominiums, and Century Woods Condominiums. These complexes border Beverly Hills and Westwood. They represent the ultimate in Westside condominium projects in West Los Angeles Real Estate. CRIME IS DOWN 47% IN CENTURY CITY When comparing January-August 2007 and 2008.. a) There have been no violent crimes. b) Motor vehicle burglaries dropped from 6 to 3. c) Grand theft dropped from 2 to 1. d) Burglaries dropped from 5 to 3. e) Miscellaneous thefts dropped from 24 to 11. Total crimes dropped from 36 to 19 or 47%. This remarkable drop in crime is due in part to the hard work of the LAPD and the security staffs of the 6 luxury residential complexes. Century Plaza hotel gets a moment in the spotlight By Martha Groves April 28, 2009 *Century Plaza Hotel, Century City:* Opened in 1966, the 19-story curved hotel, designed by architect Minoru Yamasaki, who would later design New York's World Trade Center towers, has been a prominent Los Angeles landmark for more than four decades. Despite a $36-million face-lift just over a year ago, the hotel's new owners now intend to raze the building and replace it with two 600-foot "environmentally sensitive" towers. Richard Moe, president of the National Trust for Historic Preservation, usually would remain in his home base in Washington, D.C., to trot out the group's annual list of America's 11 most endangered historic places.

	New Listings

		LARGEST SELECTION OF LUXURY CONDOMINIUMS  THE NEW CENTER OF LOS ANGELES The reasons why most people prefer Century City Living is its unique location. The six luxury complexes are a short 20 minute drive to LAX and a 5 minute walk to the Mall, Markets, Banks, Restaurants, City Parks, Golfing, Hospital, Theaters, 5 Star Hotels, Beverly Hills and Westwood. All six luxury complexes afford pools, security, fitness centers, tennis and spacious common area gardens. To the top of this page Upscale living in Tinseltown's back lot - By H. May Spitz, Special to The Times Glittering high-rises and splashing fountains mark the heart of Century City, home to more than 1,500 upscale residences and 2,500 businesses. It was developed as a master- planned community in the early 1960s, carved from the Twentieth Century Fox back lot, where Shirley Temple pouted and the movie "Peyton Place" was filmed. Epic beginning In the late 1950s, Twentieth Century Fox had fallen on hard times. A string of expensive flops had depleted its finances. "Cleopatra," an epic film starring Elizabeth Taylor and Richard Burton, was the last straw, costing about $40 million to produce. The studio's then-president and chairman of the board, Spyros P. Skouras, desperate for cash, called his favorite niece's husband for ideas. Edmond Herrscher suggested a solution, literally in the studio's backyard. By selling off a portion of its back lot, the studio could collect much needed capital. With 176 acres to spare on the northern side, Fox sold the area to developer William Zeckendorf, who dubbed the project "an oasis in the midst of a great city." Bordering Beverly Hills on the east and Westwood to the west, Century City stretches between Santa Monica and Pico boulevards, about five miles from the Santa Monica Pier. It looks today like a small-scale Manhattan and covers about 1 square mile of the Westside with more than 10 million square feet of office space and half a dozen condominium communities. Drawing card The architecture firm Welton Beckett & Associates was hired to design Century City as a self-contained, mixed-use mini-city. Created as "a city of the future," streets were named Constellation Boulevard, Galaxy Way and Empyrean Way. (Empyrean means "highest heaven.") Housing consists largely of high-security condominiums and townhomes. Streets are kept immaculate and landscaped through the combined funding of homeowner dues and Chamber of Commerce members. Brilliantly colored flowerbeds are replanted frequently, and waterfalls are professionally maintained. Parking, or even stopping, on any of the streets is prohibited. With private parking only, Century City appeals to businesses seeking security. Well over a dozen banks and investment companies cater to the residents, whose median income exceeds $74,000 annually. Insider's view "Living in Park Place is like living in a resort," said longtime condominium resident Bess Hockman. Park Place is one of the six condominium communities in Century City. All are within walking distance of two dozen restaurants, several spas and a 150-store shopping center. A mile east is famed Rodeo Drive. Hot spots Just above Constellation Boulevard, Westfield Shoppingtown Century City is a popular destination, featuring Macy's, Bloomingdale's and about 150 other retailers. The center is home to a 14-screen AMC movie theater and more than 20 dining and snack choices. There are a number of luxury hotels along Avenue of the Stars. Several hotels and buildings include VIP amenities, such as private helicopter pads and private elevator entry, appealing to visiting dignitaries and politicians. For years, President Reagan kept a private office in Century City. Commercial space The recently completed $150-million MGM tower, clad in granite and glass, rises 35 floors above Constellation Boulevard and Century Park West. Landmarks include the Century Plaza Towers, designed by renowned architect Minoru Yamasaki, and Fox Tower, showcased in the movie "Die Hard." Under construction is the new mixed use office building replacing the ABC Entertainmetn center. On the market On Century Park East, an 810-square-foot, one-bedroom, one-bathroom unit was available on the twelth floor for the mid $500,000's. A pool and other amenities are included. A unit in Century Woods topped the listings at $4.25 million. The residence, with four bedrooms, six bathrooms and five fireplaces, includes an elevator. Tennis courts and clubhouse, along with guards and gated security, add monthly homeowner dues of about $1,800 for the unit. Overall, sales are brisk, with units selling in about 30 days. Good news, bad news "We're still growing and improving," said Jim Lynch, president and chief executive of the Century City Chamber of Commerce. Report card Century City is part of the Los Angeles Unified School District. Westwood Elementary students scored 877 on the 2003 Academic Performance Index. Scores for Emerson Junior High were 638, with Hamilton High scoring 636 out of a possible 1,000. To the top of this page

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