Quantcast

The Real Deal Los Angeles

$1B Hollywood Center will have 1,000 residential units, according to new plans

Developer Millennium Partners’ redesign includes two large towers and eliminates slashes commercial space
By Dennis Lynch | April 12, 2018 11:04AM

The newly redesigned Hollywood Center

Millennium Partners’ long planned $1 billion Hollywood Center project now includes twice the number of residential units and far less commercial space for the mega-project.

The developer, which had proposed the complex in 2012, filed new plans with the city on Thursday for the 4.5-acre site.

The massive project now includes 35- and 46-story towers, along with two 11-story buildings, and underground parking. There will be 1,005 residential units — twice the amount in previous versions — with 133 set aside for “extremely-low-income” and “very-low-income” seniors. Those units will be housed in the two smaller buildings.

Millennium Partners also dropped plans for 100,000 square feet of office space and a gym, according to the Los Angeles Times.

The New York-based developer also renamed the project from the Millennium Hollywood to the Hollywood Center, and will develop the complex through a newly formed entity called MP Los Angeles. The firm also included said it could cut 121 mostly market-rate units from the plan and build a 220-room hotel.

The two larger towers would be the tallest in Hollywood, considerably larger than Champion Real Estate’s planned residential project around the block at 6220 Yucca Street.

The Hollywood Center will stand next to the iconic Capitol Records building, which some critics say will be dwarfed by the new construction. It will rise on existing parking lots along two blocks, on either side of Vine Street between Hollywood Boulevard and Yucca Street.

An LLC of the of Millennium Partners first filed plans related to the project in 2012 and gained attention in 2014 when state geologists found a fault line that ran beneath part of the project, according to the Times. The City Council approved the construction in 2015, but a judge halted the project because an environmental impact report failed to properly take into account how it would affect on the surrounding neighborhood. The plan at the time was for 492 condos and 49,000 square feet of commercial space.

The project is designed to meet LEED Gold Certification and to generate “no net-new greenhouse gas emissions,” according to a press release.