Mill Creek Residential moves ahead with 276-unit Hollywood project

The Modera Argyle is one of a number of large mixed-users in the works in Hollywood

Apr.April 19, 2019 03:00 PM
Mill Creek Residential CEO William MacDonald and a rendering of Modera Argyle

Mill Creek Residential has taken a big step forward with its planned 276-unit mixed-use project in Hollywood.

The city has published its environmental review for the Modera Argyle, wrapping up a year-and-a-half-long process that sets it up for a final vote. The public can still appeal the findings of the city’s Draft Environmental Impact Review report.

Mill Creek’s seven-story project would rise at 1546 North Argyle Avenue, at the corner of Selma Avenue. It’s near Mill Creek’s own Modera Hollywood project under construction along with other larger development projects in the works.

Mill Creek wants to include either 24,000 square feet of ground-floor retail and restaurant space or a 27,000-square-foot grocery store. The Dallas-based company — with a local office in Costa Mesa — plans to set aside 13 units for low-income renters. There would be 412 subterranean parking spaces.

The company expects to complete Modera Argyle in 2023 after 30 months of construction. Half a dozen buildings at the 1-acre development site would be demolished for the project.

Dallas-based Mill Creek owns at least one other Hollywood property — in 2015 the firm purchased a development site on the corner of Highland and McCadden avenues for $39.9 million.

Nearby, Relevant Group is building a hospitality super-complex — the firm has already completed one of four planned hotels near the corner of Selma and Wilcox avenues, in addition to a large restaurant and event space at the former Citizens News building.

Essex Property Trust is also constructing a 200-unit apartment complex nearby at 6240 Sunset Boulevard. CIM Group recently restarted work on a nearby 63-unit project, also on Sunset Boulevard.

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