Los Angeles developer Michael Rosenfeld is planning to build two 46-story skyscrapers next to the Hyatt Regency Century Plaza hotel, which dates to 1966. The old structure -- which he purchased in 2008 and which preservationists wanted saved -- will be converted into a mixed-use property. Rosenfeld's $1.5 billion proposal would transform nearly half the hotel guest rooms into luxury condos, while the towers would include condos and office space.

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