Five Chairs plans 212-key Hollywood hotel

Same developer is behind the under-construction Dream Hotel nearby

Nov.November 14, 2016 05:00 PM

Hollywood-based developer Five Chairs, a subsidiary of the Hollywood International Regional Center, has a new project on its home turf: a 212-room hotel at the corner of Selma and Wilcox Avenues.

Five Chairs acquired the half-acre site — a parking lot at 6516 Selma Avenue — for $12 million, or about $579 per square foot, from Koar, LLC last June, sources close to the deal confirmed. The parcel is already zoned for commercial use.

Nearby, as Curbed reported, is the under-construction Thompson Hotel, which will have 220 rooms and 12 stories, as well as 13,000 square feet of restaurant space.

Not so long ago, Five Chairs’ Richard Heyman filed plans for another hotel in Hollywood — a seven-story building between Ivar Avenue and North Cahuenga Boulevard on De Longpre Avenue.

The HIRC has an expansive portfolio in L.A. County and boasts partnerships with the likes of Debut and Dream Hotel. It is developing Dream Hotel’s expansion to Hollywood on Selma.

Related Articles

Amoeba Musice is moving to Hollywood Blvd. (Photo Credit: Amoeba Music)

Vinyl still rules! Amoeba Records finds new Hollywood locale

1700 North La Brea Avenue (Credit: Google Maps and Getty Images)

PNK-linked developer eyes another Hollywood hotel project

Architect Simon Park and a rendering of the project (Credit: SSPSTUDIO ARCHITECTURE & URBAN DESIGN)

Boyle Heights slated for another mixed-use project

Monica Rodriguez orchestrated the nixing of a residential project set for the Verdugo Hills Golf Course (Credit: Google Maps, Wikipedia)

The threat of fire doomed this Tujunga resi project. Now the developer will sue

6550 South Normandie Avenue (Credit: Google Maps)

Haroni Investments to turn parking lot into new apartments

Michaekl Rapino of LiveNation, Richard LeFrak, and 7060 Hollywood Boulevard

Live Nation’s Hollywood exit leaves big hole for LeFrak

Council President Herb Wesson and a rendering of District Square

City will draw up “anti-displacement zone” ordinance

David Ryu with a Little Tokyo Galleria rendering

Under the (RE)influence: Councilman’s campaign funds scrutinized