POV: Point of View

Hollywood Resurgence

Feb. 2015

According to a Los Angeles Times article by real estate writer Roger Vincent, Hollywood is currently experiencing an unprecedented resurgence in development. Not since the building boom of the 1970’s has it seen so much building activity.

 

Richard Green, director of the USC Lusk Center for Real Estate, cited by Vincent, says, “Hollywood began a comeback this century and has attracted billions of dollars of investment in housing, hotels, shops and entertainment.” With many new and planned projects going up in the area, this trend shows no signs of abating.

Bloomberg Businessweek notes that about 1.1 million square feet of offices, retail, and apartments started construction with another 1.42 million square feet gearing up. The 19-square-mile area known for its seediness just a decade ago is now “one of a handful of U.S. markets where construction cranes, developers’ temporary fences and signs with artists’ renderings of buildings can be seen on multiple city blocks.”

As tracked by the website LA Curbed, current developments planned or underway include a $138-million creative office campus in the heart of Hollywood’s Media District, the 1.2 million square-foot Columbia Square mixed-use residential, office, and retail complex, and a proposed $258-million development just north of the ArcLight Cinema. There is also the 24-story Hollywood Horizon mixed-use apartments, the 28-story, two-tower Palladium Residences, and the Dream Hollywood Hotel, to name a few. Also transforming Hollywood are projects like Morphosis’ game-changing campus for Emerson College Los Angeles. In addition, Hollywood may soon see a 38-acre park spanning a mile-long section of the 101 Freeway.

 

At Withee Malcolm Architects, we are playing a role in this on-going transformation, with two projects that reflect the increased demand for residential space in the area. Opening this year, the 76-unit luxury Highland Apartments are bringing new energy to the iconic corner of Hollywood and Highland. Later this year we will also be breaking ground on the 224-unit Hollywood Cherokee Apartments.