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  #961  
Old Posted Jun 7, 2007, 10:16 PM
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Wink hollywood freeway park

I like the concept of a park above a freeway it would make the area a little nicer.


http://reggie21.ld.net
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  #962  
Old Posted Jun 11, 2007, 10:13 PM
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Deutsche Bank Provides Financing Package for 375 Apartments

By Kelly Sheehan, Online News Editor

JUNE 11, 2007 -- Hollywood, Calif. -- Deutsche Bank Berkshire Mortgage (DBBM) recently provided a $465-million financing package for the acquisition and development of Hollywood and Vine, a 400,000-sq.-ft. mixed-use apartment development project in Hollywood, Calif. The project will be developed by Legacy Partners Affordable Housing Fund (LPAHF).

The financing package includes three components:


A $180-million Fannie Mae new construction forward credit enhancement originated and closed by DBBM. The bonds being enhanced are a new issue low-floater tax-exempt bond issued by the Community Redevelopment Agency of the city of Los Angeles.


A $135-million senior secured construction facility. Deutsche Bank acted as sole-lead arranger and sole-book running manager.


A $150-million Capital Commitments Facility for the Legacy Partners Affordable Housing Fund. Deutsche Bank acted as Administrative Agent and Deutsche Bank Securities Inc. acted as sole-lead arranger and sole book manager. This facility is backed by unfunded capital commitments and will not be secured by the real estate.


Hollywood and Vine will be part of a larger 4.65-acre, transit-oriented, mixed-use development. This larger community will ultimately include an MTA Transit Plaza, with a stop for the Red Line subway and connecting buses; a 305-room W Hotel; a 143-unit W Residences condominium tower; 48,700 square feet of street-level retail; and parking areas. The borrower will own a leasehold interest on the property, with a 99-year ground lease agreement with the Los Angeles County Metropolitan Transportation Authority.

The Legacy portion of the project consists of 375 luxury studios and one-and two-bedroom units. Seventy-eight units will be set aside as affordable housing, with 75 of those apartments reserved for very low-income levels. Other features of the project include interior landscaped courtyards with fountains, fire pits and intimate seating areas, a resident clubhouse, a fitness center, a pool and spas.
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  #963  
Old Posted Jun 12, 2007, 9:48 PM
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Madrone Construction

Madrone @ Hollywood/La Brea is rising above ground level now.

Today's view from the webcam:


Project Rendering:
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  #964  
Old Posted Jun 13, 2007, 6:11 PM
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There is a piledriver on site of the W.
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  #965  
Old Posted Jul 4, 2007, 6:20 AM
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According to Curbed LA, The Clarett Group's BLVD6200 project has been approved. BLVD6200 will sit directly across from the W Hotel/Legacy Apartments at Hollywood and Vine and the Pantages Theater. So excited to hear this news, for it assures us that Hollywood is on the comeback!

From Curbed LA:

CurbedWire: Developments
Friday, June 29, 2007, by jwilliams



HOLLYWOOD - We were at a Planning and Land Use hearing this week where the Pantages redevelopment project by Clarett Group was approved. Everyone, and we mean everyone, came out to support it, except one cranky NIMBY. That being said, a reader wonders if the rest of the area, just west, is due for some developer love. "Walked around before a "Wicked" performance and was dismayed that the real estate between Vine and to about Musso and Frank continues to be so taudry. Will there ever be an effort to re-hab the old Pacific (Warners) Theater? I would think it would be a good anchor to get further activity going." [CurbedWire Inbox]

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  #966  
Old Posted Jul 6, 2007, 2:21 PM
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Site of Hollywood gems eyed for development
By Roger Vincent, Times Staff Writer
July 6, 2007



Two Hollywood landmarks, the Magic Castle and Yamashiro restaurant, are poised to be sold as the pace of development in the once-gritty neighborhood continues to sizzle.

The family that has owned the properties since shortly after World War II has been flooded with offers from developers that want to add structures to the 10-acre site, which is just above Grauman's Chinese Theatre, Hollywood & Highland and other attractions.

The terms of any sale will stipulate that Yamashiro and the Magic Castle, a private club for magicians, continue to operate as they have for decades, according to the properties' manager. Also on the 10 acres are the less recognizable Magic Castle Hotel, Hollywood Hills Hotel & Apartments and Magic Castle Park apartments, which could be redeveloped by the buyer.

The owners are 11 descendants of mid-century landlord Thomas O. Glover, who bought Yamashiro for $150,000 in 1948. They're ready to give up day-to-day control, said Andy Ulloa, Glover's stepgrandson. The key vote was cast by Ulloa's stepfather, Glover's son Thomas Y. Glover, who has helped run the complex for about 50 years.

"He is interested in divesting his interest and establishing security for himself," Ulloa said. "It's a good time to move on."

With Hollywood in the midst of a building boom, the property is highly sought after and bids have surpassed $70 million, people familiar with the situation said.

A mostly undeveloped site with panoramic views "is unheard of in the Hollywood Hills," said broker Marc Renard of Cushman & Wakefield, who represents the Glover family. "We see phenomenal interest in this site."

The Magic Castle is an Edwardian manor with French and Gothic elements built in 1908 by Rollin Lane, a Redlands financier and orange grower, and his wife, Katherine. By the '60s it had become a maze of small apartments.

Glover and his partner, television writer Milt Larsen, turned it into a clubhouse for magicians in 1963, and today it serves as headquarters for the Academy of Magical Arts Inc. Magicians perform for guests of the academy who have to know the password to unbolt a sliding bookcase in the lobby and gain entrance. (It's not a secret password; it's been "open sesame" for decades.)

As for Yamashiro, a replica of a palace in the Yamashiro Mountains near Kyoto, Japan, it was completed in 1914 by the Bernheimer brothers, who wanted a mansion to house their Asian art collection and brought hundreds of craftsmen from Asia to build it. The grounds were elaborately landscaped and what is probably the oldest structure in California was imported: a 600-year-old pagoda.

During the '20s the mansion was an exclusive social club for the Hollywood elite, including such actors as Lillian Gish and Ramon Navarro. After World War II began, Yamashiro was mistakenly rumored to be a signal tower for the Japanese and was vandalized. It went on to become a boys military school and then an apartment building. Glover restored it and turned it into a restaurant in 1960.

For local residents, the concern is that new buildings on the site will spoil the neighborhood's old-Hollywood ambience and add congestion to heavily burdened streets.

"We have been told there is room for 200-some condos," said Malcolm S. McNeil, president of Hollywood Heights Assn., a local homeowners group. There is already more than enough traffic in the area, he said. "Have you been to the Hollywood Bowl lately, especially on a Friday or Saturday night?"

McNeil said he hoped that the property would be acquired by someone "who cares about the neighborhood as much as Andy's family has over the past 40 years."

Ulloa said he was undecided about what the best additions to the property would be, although he thought that office buildings wouldn't be appropriate. And "given that condos are being built all over the place," he said, "we would like to do something more unique."

That suggests further hotel development. City approval for stores and other retail uses might be hard to come by because the land is zoned for residential use. Some observers expect to see a proposal for new condominiums, which have been profitable for developers in other parts of Hollywood.

Shaul Kuba, one of Hollywood's leading landlords, said land in Hollywood was becoming so expensive that buyers were at risk of overpaying. If a developer pays too much for land, he may find that he is not be able to build at all because his final costs would be too high to make a profitable return, said Kuba, whose company, CIM Group, owns the Hollywood & Highland shopping and entertainment center and several other commercial properties.

To make a profit from the Yamashiro and Magic Castle site after paying $70 million or $80 million, a developer would have to build 500 to 800 condominiums, Kuba said. "Is this going to be a project that the community is willing to accept?"

Real estate attorney Jerry Neuman of Allan Matkins agreed that rising prices were pushing Hollywood toward increasingly dense development.

"Eventually there is a point where you can't get enough density to support the land prices," Neuman said. "Are we getting close to that? It's possible. Whether Yamashiro falls into that category is uncertain."

Preservationist Robert Nudelman of Hollywood Heritage Inc. said the steep slope of the hilly site would help protect it from overdevelopment. "The geology limits what you can do," he said, "unless you build on stilts."

A buyer will probably be selected by the end of the year, broker Renard said.

Ulloa said he hoped to reinvest some of his profit in the new owner's development as he continues to help oversee operations of the Magic Castle and Yamashiro, which would be the new owner's tenants.


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  #967  
Old Posted Jul 6, 2007, 4:54 PM
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^What an incredible history (and location)! I'm on the fence with this news b/c I'm pro-development/growth, but Hollywood does have a magical (sorry for the pun) history and I feel this is a big chunk of it soon to be gone. I suppose these things are inevitable. If you're going to tear down a landmark, replace it with something worthy!
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  #968  
Old Posted Jul 6, 2007, 5:39 PM
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Quote:
Originally Posted by fridayinla View Post
^What an incredible history (and location)! I'm on the fence with this news b/c I'm pro-development/growth, but Hollywood does have a magical (sorry for the pun) history and I feel this is a big chunk of it soon to be gone. I suppose these things are inevitable. If you're going to tear down a landmark, replace it with something worthy!

I believe the article states that the Magic Castle and Yamashiro are protected in the terms of the sale of property, and will continue to operate as usual. So no need to fear!
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  #969  
Old Posted Jul 6, 2007, 9:32 PM
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My concern is that they will try to build something in between the two. Part of the allure and charm of Yamashiro are the gardens and the sweeping views of the city. It's a calm retreat in the middle of the city and should stay that way. If they build anything there, it needs to be in the same architectural class as the Getty Center that doesn't take away the views of Yamashiro.
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  #970  
Old Posted Jul 12, 2007, 3:59 PM
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Well there is a big open air parking-lot on Franklin Ave next to the Magic Castle and that is the only place I would be happy to see being developed. I can't imagine where else they could develop without messing with the charm of how the 2 developments compliment each other now.
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  #971  
Old Posted Jul 16, 2007, 6:10 AM
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Hollywood Construction Photo Update

Hollywood + Vine Project





Preserving the facade of historic Herman Building


PaliHouse Hollywood - near Hollywood/Vine


The Hollywood - condo project



Hollywood Terrace Hotel (Addition/Renovation) - Highland Avenue north of Franklin

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  #972  
Old Posted Jul 17, 2007, 4:40 AM
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Quote:
Originally Posted by fridayinla View Post
Hollywood + Vine Project
That's the first photo I've ever seen of the site of the H&V proj under actual construction. Thanks!
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  #973  
Old Posted Jul 17, 2007, 7:28 AM
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how ridiculous does the Bernard Luggage store look. i cant believe people fought for that damn thing to stay up. they should have torn that building down first.
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  #974  
Old Posted Jul 17, 2007, 8:53 PM
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Huge Hollywood apartment complex approved
The L.A. City Council clears the way for 1,000 rental units in seven buildings to rise on parking lots around the Pantages. It's the largest residential project in the resurgent area.
By Roger Vincent, Times Staff Writer
12:51 PM PDT, July 17, 2007

Hollywood apartment complex approved
Photo Gallery
Hollywood apartment complex approved
In another boost for Hollywood, the Los Angeles City Council today approved a major new apartment complex with 1,000 rental units in seven buildings that will rise on sprawling parking lots around the historic Pantages theater.

After decades of being considered seedy, the Hollywood business district has been on a growth spurt since 2001, as many new commercial and residential projects are turning the area into a more sophisticated urban locale.

The complex would be the largest residential project among more than 2,500 upscale condominium and apartment units that have been built, are under construction or planned just on blocks around the famous intersection of Hollywood Boulevard and Vine Street.

The $400-million development "continues the incredible momentum we have seen in Hollywood during the past five years," said City Councilman Eric Garcetti, who represents the area. "It's a picture of what the future of Hollywood will be as well."

The project is called Blvd6200 for its Hollywood Boulevard address. The council unanimously approved a zoning change that will allow construction to begin by early next year on the long-planned project on both sides of Hollywood Boulevard at Argyle Avenue east of Vine. It would also include shops and restaurants at street level.

Developer Veronica Hackett said she was attracted to the project in part because she believes the elements of a pedestrian-friendly neighborhood are coming together around it.

"One of these days, people are going to walk in Hollywood," said Hackett, who worked as a developer on the revitalization of Times Square in New York in the 1980s.

During that process she became acquainted with the Nederlander family, which owns several theaters for live performances, including the Greek Theatre and the Pantages in Los Angeles.

Hackett is managing partner of the Clarett Group, which has a 99-year lease with the Nederlander Co. for control of more than 7 acres around the Pantages that the family owns and planned to develop for many years.

The land is now mostly parking lots serving the Pantages and other businesses. Chairman James Nederlander said he supports the Clarett project.

Blvd6200 would house 2,696 parking spaces underground or concealed behind stores on the first floor. "We had to get everything inside so we don't have ugly parking garages," Hackett said. "They're not inviting to walk by."

More than 650 spaces will be reserved for the Pantages on event days, and a portion of those will be available for public transit users on days when no performances are scheduled.

The project is within a block or so of the Hollywood and Vine subway station. That fact helped Clarett get city approvals to develop 140 units per acre, which makes Blvd6200 one of the densest projects in Los Angeles. It would take as much as two years to complete, Hackett said.

Neighborhood groups support the project, said Orrin Feldman, vice president of the Hollywood Hills West Neighborhood Council.

"This is one of best success stories in the Hollywood redevelopment era," he said. "This is a great achievement the community needs to keep the Pantages viable."

Roger.Vincent@latimes.com
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  #975  
Old Posted Jul 17, 2007, 10:01 PM
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Quote:
Originally Posted by citywatch View Post
[/b]
Nothing better than to see one more deadzone sent packing!



These are the pics that went with the article:


A computer rendering showing the plaza area of the massive apartment complex to be
built around the historic Pantages Theater in Hollywood. The Los Angeles City Council to-
day approved plans for the complex which will include 1,000 rental units in seven build-
ings. (Van Tilburg, Banvard & Soderberg)



The Hollywood business district, which will house the massive complex, has seen a steady
surge in growth since 2001.



The $400 million dollar development will also include shops and restaurants at street level.


A computer rendering of one of the buildings in the Hollywood apartment complex. The
complex would be the largest residential project around the famous intersection of Hol-
lywood Boulevard and Vine Street.



A computer rendering showing one of the seven buildings to be erected as part of the
apartment complex.
Love the design.

Last edited by fridayinla; Jul 17, 2007 at 10:15 PM.
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  #976  
Old Posted Jul 17, 2007, 10:18 PM
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edit
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  #977  
Old Posted Jul 17, 2007, 11:16 PM
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^ One important thing about this proj, based on an aerial image of the site, is that some very visible parts of both the north & south sides of Hollywood blvd, bounded by Argyle to the west & El Centro Ave to the east, will be cleaned up & replaced by the 8 bldgs in this proj. Mainly parking lots will be wiped out, but also 3 bldgs sitting east of the Pantages, along the north side of the blvd & across 2 streets from the theater. One of those 2 streets look like it will be eliminated for the devlpt.


Last edited by citywatch; Jul 17, 2007 at 11:24 PM.
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  #978  
Old Posted Jul 17, 2007, 11:38 PM
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i love this pace in Hollywood. Almost that whole areal Pic area will be redeveloped in the next 3 - 4 years. The two lots on the bottom left are also major projects, the CBS Lot (which i believe had a 40 story tower in the plans) as well as the Palladium lot which will be fixed up and developed!
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  #979  
Old Posted Jul 17, 2007, 11:59 PM
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I like that its being built in separate buildings with their own identity. Too many projects these days look like just one big clump with a mash of styles.
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  #980  
Old Posted Jul 18, 2007, 10:54 AM
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The Lofts @ Hollywood and Vine: Hollywood's First Adaptive Reuse Project Makes History by Welcoming Inaugural Residents to the Iconic Intersection



Urban Loft Living Debuts in Hollywood

HOLLYWOOD, Calif., July 17 /PRNewswire/ -- For the first time,
residents are moving to the intersection of Hollywood Boulevard and Vine
Street as Hollywood's first adaptive re-use project is now complete. Developed as residential urban living by Palisades Development Group, the building was constructed in 1929 at the northeast corner of the historic intersection. The former Equitable Building is one of Los Angeles'
authentic architectural treasures and is now an elegant, distinctive
residential landmark: The Lofts @ Hollywood and Vine.

Created by Palisades Development Group, a company highly regarded for
its innovations in contemporary urban place-making, The Lofts @ Hollywood
and Vine embody a vision for a new L.A. lifestyle that thrives on the
energy of a burgeoning street culture. Utilizing the innate style and
elegance of a landmark building and an exceptional location in the heart of
resurgent Hollywood, Palisades has created a collection of singular urban
residences for people to whom personal style, sense of design and a lust
for life are essential. The Lofts @ Hollywood and Vine consists of 60
luxury residential loft condominiums and 5 commercial spaces totaling more
than 100,000 square feet.

"There's something inspiring about being in an iconic building -- you
feel a connection to the past, like you're a part of history," observes Avi
Brosh, founder and president of Palisades Development Group and an emerging
arbiter of style in Los Angeles. "Hollywood is the emerging epicenter of
nightlife and culture. What you are going to see is the emergence of the
most dynamic corner in the city. If you're an urban person, this will be as
good as it gets."

Sleek and minimal, each residence at The Lofts @ Hollywood and Vine is
a study in contemporary urban elegance. From epoxy floors to unadorned
columns and exposed beams, the lofts have a clean, gallery-inspired
aesthetic. Residences are highlighted by lofty ceilings; unimpeded city and
mountain views; original window fixtures; linear, one-wall kitchens
featuring a suite of Viking appliances; and luxurious bathrooms accented
with Ann Sacks tiles. Other building amenities include 24-hour valet
parking and a private landscaped roof garden, the highest vantage point on
the intersection for a new view of L.A.

Two well-known Los Angeles designers, Kenneth Brown of HGTV fame
(http://www.kennethbrowndesign.com), and Pamela Shamshiri of Commune design firm (http://www.communesite.com), were enlisted to decorate four
individual lofts (two each). Each is designed with a specific contemporary
urbanite in mind: an environmentally conscious female fashion designer and
a European ex- patriot art collector (Shamshiri); a single web designer
from New York and a hip, young, mixed-race family (Brown). These lofts are
singular statements about the creative individuals and families that will
make this building their home.

When the original building was completed at the end of 1930, it was
occupied by a bank on the ground floor with various tenants, including
Hollywood agent Myron Selznick, in the upper floors. Selznick's agency
represented a "who's who" of Hollywood stars including Vivien Leigh, Gary
Cooper, Laurence Olivier, Boris Karloff and Henry Fonda. Hollywood trade
publication Daily Variety occupied offices on the ground floor from 1934 to
1947, marking the intersection of Hollywood and Vine the true hub of
Hollywood life. The building's gothic-deco design includes exterior
artwork, hand carved gargoyles, floral designs and twisting rope trim, some
of which had been covered over and is now revealed maintaining the
architectural integrity of the building's original design. The building has
also been listed on the National Register of Historic Places for its
contribution to the Hollywood Boulevard Commercial and Entertainment
District.

A leader in the design, development and management of exceptional
residential, mixed-use and hospitality properties, Palisades Development
Group employs new construction and adaptive reuse to create spaces for
people to whom personal style and sense of design are essential to the way
they define themselves.

For more information, please visit
http://www.palisadesdevgroup.com or
http://www.theloftsathollywoodandvine.com

----------------------------------------------------

Beautiful!




















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