![CGI Plus' Gidi Cohen with rendering of 1830 North Cahuenga](https://static.therealdeal.com/wp-content/uploads/2023/05/Gidi-Cohens-CGI-Plus-Files-Apartment-Plans-In-Hollywood-f.jpg)
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CGI+ aims to move historic apartments for 20-story tower in Hollywood
Housing complex from 1920s would relocate to East Hollywood
![CGI+'s Gidi Cohen with 1830 North Cahuenga Boulevard and rendering of 4853-4857 Melrose Avenue](https://static.therealdeal.com/wp-content/uploads/2023/07/CGI-aims-to-move-historic-apartments-for-20-story-resi-tower-in-Hollywood-m-1400x875.jpg)
What to do when you want to build a 20-story residential tower on the site of a century-old apartment complex in Hollywood? For CGI+, the answer is to move the historic building three miles.
The Woodland Hills-based developer has filed for a permit to move the 24-unit, Mediterranean-style complex from 1830 North Cahuenga Boulevard to 4853-4857 Melrose Avenue in East Hollywood, Urbanize Los Angeles reported.
The 1920s building would be replaced by a 244-unit highrise at Cahuenga and Franklin Avenue.
Following the move, the sage-colored apartments would still have two dozen units, of which three would be set aside as affordable for very low-income households.
The affordable component would make the project eligible for a density bonus that allows more housing than otherwise permitted by local zoning rules.
The restoration project, designed by Downtown-L.A.-based Architectural Resources Group, would include apartments from 210 to 392 square feet. The building, set on nearly a third-acre, would retain its original look and color. A schedule for the relocation was not disclosed.
The apartment building, last renovated in the 1970s, was bought by Capital Foresight Limited Partnership in 2020 for $6 million, or $250,000 per unit.
In 2021, Capital Foresight struck a joint venture agreement with CGI, led by Gidi Cohen.
Plans call for the apartments on a quarter acre to be replaced by a 20-story, 244-unit tower with nearly 20,000 square feet of shops and restaurants.
The white highrise, designed by Downtown-based AC Martin, would have layers of balconies and gothic-style arches top and bottom, according to a rendering. It would include a rooftop terrace, courtyard and a pool.
Pending approvals, CGI+ said it could break ground in 2025 and complete the project in 2027.
Cohen, a longtime developer and Israeli military veteran, founded the company formally known as CGI+ Real Estate Investment Strategies in 2013.
CGI+ owns more than a dozen properties across Los Angeles, including an apartment complex on La Brea Avenue. The firm also developed Mariposa, a 122-unit apartment building in Koreatown that listed in 2021 for $79.5 million.
— Dana Bartholomew
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![CGI Plus' Gidi Cohen with rendering of 1830 North Cahuenga](https://static.therealdeal.com/wp-content/uploads/2023/05/Gidi-Cohens-CGI-Plus-Files-Apartment-Plans-In-Hollywood-f.jpg)
![](https://static.therealdeal.com/wp-content/uploads/2021/10/feat_LA_Gidi-Cohen_10.28.21-250x179.png)
![CGI+'s Gidi Cohen and the Mariposa at 3rd Street and Mariposa Avenue (Facebook, Mariposa on 3rd)](https://static.therealdeal.com/wp-content/uploads/2022/02/ft-Milk-honey-and-the-City-of-Angels-250x179.jpg)