Beverly Center's $500 Million Facelift To Be Completed By 2018

LOS ANGELES (CBSLA.com) — One of Southern California's iconic shopping destinations unveiled plans Monday for a long-awaited renovation.

The Beverly Center located in the 8500 block of Beverly Boulevard is expected to be transformed as part of a $500 million renovation, according to a news release.

Construction of the revamped shopping center, which is eight stories high, is expected to be completed by the 2018 holiday season.

"The Beverly Center holds a special place in LA's imagination — it's where an entire generation of Angelenos went on first dates, bought prom dresses and met up with friends on weekends," said Los Angeles Mayor Eric Garcetti.

"Reimagining it for the 21st century is a tremendous investment in making those timeless experiences possible for the next generation of Angelenos," Garcetti added. "These plans capture the spirit of ambition and innovation that is driving our city's economic resurgence."

The renovations include adding new skylights, a new exterior, a row of street-level restaurants, and a smart parking system, among other changes.

The shopping center presently houses more than 100 specialty boutiques, including luxury retailers Burberry, Dolce & Gabbana, Fendi and Gucci, among others.