Travel Weekly catches up with the ambitious Wilshire Gayley hotel project in Westwood, officially called the Gayley at Wilshire. Back in late June, bulldozers took down a grungy Hollywood Video (a gas station also lived here a while ago) to make room for local developer Kambiz Hekmat's 29-story, 250-room project. As you can see here, the plot is tiny, but Hekmat and architect Robert AM Stern think they can create a West Coast version of New York's Flatiron Building, according to Travel Weekly. Hekmat didn't give specifics regarding a groundbreaking or an operator, but did say the project will be a four star property with rooms going for about $400 a night. We won't blame you for being dubious about this thing getting built, it being 2011 and all, and Hekmat's other Westwood hotel having stalled out last fall, but we do know Metro moved the planned Westwood subway station closer to Westwood Blvd. because of the proposed hotel. Another good sign is that Westwood is in need of more hotel rooms--tourism and business travel in LA are on the rise and the "average daily rate of hotels in West Los Angeles and Beverly Hills is expected to increase 6.3% this year, to $270, while occupancy will rise 3 percentage points, to 75%." Hekmat is also still negotiating with the the city for financial help--he's seeking a reimbursement of bed taxes until the Gayley at Wilshire turns a profit.