Outside the Lines – Volume 1
June 6, 2014
In this new series, Outside the Lines, I will take an occasional look at development occurring just outside the boundaries of the two Hollywood Business Improvement Districts (BIDs) that we manage here at HPOA. In discussing these projects it’s clear to see that the development boom is exploding across Hollywood, with more and more projects beginning to make their way from east to west (our way).
Looking east, we’ve heard that there is a proposed project for 4900 Hollywood Boulevard (rendering pictured above). The building will feature 200 dwelling units, of which 40 will be designated as low income housing. The project comes at an opportune time, as City Councilmember Mitch O’Farrell and others are calling for additional affordable housing units to be built in the city. Additionally, the 190,000 square-foot development will bring approximately 14,000 s.f. of commercial space, with another 39,600 s.f. to be used for an open-space area. The building will provide 344 parking spaces on the ground floor with two subterranean floors as well. The expected completion date is sometime around the second quarter of 2016.
Heading back west, we hear that things are continuing to move along for Astani Enterprise Inc.’s 5500 Hollywood Blvd. development. In late April, LA City Council gave their approval for the project, will feature 280 apartment units, private open space and some additional retail space.
Inching our way further west to 5600 Hollywood Boulevard, Atelier V: Architecture has announced plans to construct a boutique hotel called ’80 Cool Rooms’ at the corner of Hollywood Boulevard and St. Andrews Place. The 28,000 s.f. development will indeed feature 80 “cool rooms” for guests to stay in along with a restaurant located on the ground floor. Atelier V is currently working on securing entitlements and hopes to start construction sometime in mid-2016.
Joseph Mariani, a member of the Hollywood Property Owners Alliance staff since 2007, has enjoyed seeing the continued positive growth in Hollywood. Serving as the BID’s Director of Strategic Initiatives and Business Development Mariani works closely with property owners, the retail and investment community, commercial real estate brokers and the city’s economic development team to implement the BID’s strategic marketing and communications blueprint. He holds a Bachelors of Science Degree from the University of California, Riverside and recently completed his MBA at UC Irvine’s Paul Merage School of Business. Mariani is an avid sports fan, loves his beautiful wife, and enjoys volunteering at the Oasis of Hollywood. Check out the latest Hollywood happenings @GoodNewsJoe