Huge Hollywood Apartment Complex Approved
Los Angeles Times -- July 17, 2007
The L.A. City Council clears the way for 1,000 rental units in seven buildings to rise on parking lots around the Pantages. It's the largest residential project in the resurgent area.
By Roger Vincent, Times Staff Writer
In another boost for Hollywood, the Los Angeles City Council today approved a major new apartment complex with 1,000 rental units in seven buildings that will rise on sprawling parking lots around the historic Pantages theater.
After decades of being considered seedy, the Hollywood business district has been on a growth spurt since 2001, as many new commercial and residential projects are turning the area into a more sophisticated urban locale.
The complex would be the largest residential project among more than 2,500 upscale condominium and apartment units that have been built, are under construction or planned just on blocks around the famous intersection of Hollywood Boulevard and Vine Street.
The $400-million development "continues the incredible momentum we have seen in Hollywood during the past five years," said City Councilman Eric Garcetti, who represents the area. "It's a picture of what the future of Hollywood will be as well."
The project is called Blvd6200 for its Hollywood Boulevard address. The council unanimously approved a zoning change that will allow construction to begin by early next year on the long-planned project on both sides of Hollywood Boulevard at Argyle Avenue east of Vine. It would also include shops and restaurants at street level.
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.
The land is now mostly parking lots serving the Pantages and other businesses. Chairman James Nederlander said he supports the Clarett project.
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.
The project is within a block or so of the Hollywood and Vine subway station. That fact helped Clarett get city approvals to develop 140 units per acre, which makes Blvd6200 one of the densest projects in Los Angeles. It would take as much as two years to complete, Hackett said.
Neighborhood groups support the project, said Orrin Feldman, vice president of the Hollywood Hills West Neighborhood Council.
"This is one of best success stories in the Hollywood redevelopment era," he said. "This is a great achievement the community needs to keep the Pantages viable."
