If it feels like Century City has seen a rush of development lately (there's the under-construction Century project, the recently approved Westfield development, and the proposed Century Plaza project), this plot of ground at 10131 West Constellation Boulevard is likely tucking in for a nice, long nap. Given the economic environment, reps for Chicago-based developer JMB Realty Corp will appear at a City's Planning and Land Use Management meeting this afternoon to ask the city to approve a developer agreement for the project--dubbed the Constellation Park project and designed by local firm Johnson Fain--that extends entitlements for the project to 2018 (the entitlements would have expired in 2011). Download part of the agreement here. The project, which resulted in a settlement last year with local homeowners, consists of two 47-story towers and one 12-story luxury condominium building. A rep for Johnson Fain tells us that the no design work is being done and the project is basically in a holding pattern. According to a 2005 Los Angeles Times article, it sounds like a City National Bank and the Century Club used to live on this 5.5-acre plot, but were destroyed for the project.