Inside Hollywood’s jam-packed development pipeline
From the January issue: Hollywood commercial real estate is on a roll. And it’s not all about demand for office space, though the surge in occupancy by companies like Netflix certainly helps. Both mixed-use and multifamily projects are seeing their day in the sun, too, and developers have been quick to seize on the trend.
“The outlook for Hollywood is very strong,” said Michael Soto of real estate firm Transwestern. He said the area was very attractive for development not just because it is the traditional nexus of L.A.’s entertainment industry, but also because it’s centrally located and well served by public transportation.
The developments in The Real Deal’s ranking of the 20 largest projects in the pipeline would add more than 10 million square feet of space to the Hollywood market, including about 6,500 residential units. [More]