Plaza La Reina, on hold. Photo taken last fall
Last fall, construction was underway on developer Indivest Properties' Plaza La Reina, a 44-room, five-story extended stay hotel on Lindbrook Drive in Westwood. But as some readers recently pointed out, the project hasn't seen any new work since late last year. Kambiz Hekmat, CEO of Indivest, says his firm is in negotiations with lenders to re-start the project. “Originally, we thought we had the financing, but the bank backed out on us. We used our own funds [for the beginning stage] of the project." At this point, four and half levels of underground parking and a ground-floor retail space have been completed on the Moule & Polyzoides-designed hotel. And for those keeping a scorecard of Westwood projects, Indivest is also behind the Robert AM Stern-designed Gayley at Wilshire hotel, which was approved by the Planning Commission earlier this year.
· IIndivest Properties [Official Site]
· Be It a Hotel or Condo Tower, Westwood's Wilshire Gayley Returns [Curbed LA]