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Big Ass Apartment Complex Approved for Hollywood
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Don't call it a comeback, but Hollywood Blvd. will soon look very different.
Today the Los Angeles City Council approved a $400 million, 7-building, mix-use complex that will feature 1,000 apartments as well as several shops and restaurants.
Built on the parking lots around the Pantages theater in the once-glorious center of Hollywood (Hollywood & Vine), the council voted unanimously to change zoning laws to allow for construction to begin at the end of this year.
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Developer Veronica Hackett said she was attracted to the project in part because she believes the elements of a pedestrian-friendly neighborhood are coming together around it. "One of these days, people are going to walk in Hollywood," said Hackett, who worked as a developer on the revitalization of Times Square in New York in the 1980s.
During that process she became acquainted with the Nederlander family, which owns several theaters for live performances, including the Greek Theatre and the Pantages in Los Angeles.
Hackett is managing partner of the Clarett Group, which has a 99-year lease with the Nederlander Co. for control of more than 7 acres around the Pantages that the family owns and planned to develop for many years. - LA Times
Blvd6200 would house 2,696 parking spaces underground or concealed behind stores on the first floor. "We had to get everything inside so we don't have ugly parking garages," Hackett said. "They're not inviting to walk by." More than 650 spaces will be reserved for the Pantages on event days, and a portion of those will be available for public transit users on days when no performances are scheduled.
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