Outside the Lines: Cahuenga/Fountain Project
January 21, 2015
At this month’s Sunset and Vine Board meeting, representatives from Rescore Property Corporation revealed plans for their 1311 North Cahuenga Boulevard project. The 1.8 acre site was purchased for a reported $28 Million last summer by the Florida based REIT. Rescore has also partnered with Brentwood developer Cal-Coast Development on the project. Plans for the building will call for a seven-story structure that will include 369 residential units. Of the 369 units featured in the project, 12 will consist of “live/work” spaces, and 30 will be developed as micro-units. The building will include 567 parking spaces, enough for residents and a few guests, as well as over 400 bicycle stalls.
Unlike many mixed-used developments coming to the Hollywood area this building will only feature a small commercial space, approximately 2,500 square feet. The project will however span across Homewood Avenue giving way for plenty of open space (40,600 square feet of it to be exact). The developer has also indicated in the past that the project will feature more “reasonable” rents that would cater to the working individual.
Total cost for the project is estimated to be around $110 Million.
A public scoping meeting for the project will be held on Wednesday, January 28, from 5:00 – 7:00 p.m. at the LA Fire Department Hollywood Museum, Fire Station 27, 1355 N. Cahuenga Blvd. (Click here for the notice of preparation of an Environmental Impact Report and Notice of Public Scoping Meeting.)
For more information about the project, take a look at Building LA’s coverage.
A member of the Hollywood Property Owners Alliance staff since 2007, Joseph Mariani has enjoyed seeing the continued positive growth in Hollywood. He serves as the BID’s Director of Strategic Initiatives and Business Development and tweets at @GoodNewsJoe.