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Demand for media, production space may boost Hollywood office project
BARDAS Investment Group released design plans for “campus-like” complex, to go with Seward House property it acquired last year
Developer BARDAS Investment Group has released design plans for its “campus-like” Hollywood office complex, a project that could benefit from increasing demand for media and production space.
The 68,000 square-foot office will be five stories and occupy the corner of Melrose Avenue and Seward Street, according to Urbanize.
BARDAS is going all in on that block, after buying a neighboring historic office property, the Seward House, for $23 million in March 2020. The firm is pitching its new office building as part of a larger 100,000-square-foot “campus-like environment” together with the Seward House.
Collin Monsour, Director of Asset Management and Development at Bardas. (Bardas)
The West Hollywood-based firm included renderings and details of the project before a planned presentation on Tuesday for the Greater Wilshire Neighborhood Council’s Land Use Committee. The group can recommend changes to the project for approval. BARDAS needs the city to sign off on a zone change and some other discretionary entitlements.
Renderings show an all-white façade and floor-to-ceiling windows across two floors facing Melrose Avenue. Setbacks in the design allow for terraces and balconies on several floors.
The overall Los Angeles office market has plummeted in the year since the pandemic hit, but there has been strong demand for media and production-related office space, which may buoy the Hollywood project.
BARDAS’ development site is close to the 261,000-square-foot Hollywood 959 complex that sold for $186 million in late December. Developer J.H. Snyder Co. sold the complex to Lincoln Property Company.
[Urbanize] — Dennis Lynch