A pair of small retail buildings just south of Sunset Boulevard in Hollywood could make way for a mixed-use development, according to plans submitted yesterday to the City of Los Angeles.
The approximately 50,000-square-foot site, located on the east side of Vine Street between Leland Way and De Longpre Avenue, calls for the construction of a nearly 200,000-square-foot building containing 198 residential units, 16,000 square feet of ground-floor retail, and parking for 278 vehicles. Requested entitlements include density bonus incentives, indicating that some of the apartments would be designated as affordable housing.
The nature of the project would necessitate a hearing before the Los Angeles City Planning Commission prior to approval
Property records list the owner of the retail center at 1400 N. Vine Street as an entity affiliated with Santa Monica-based real estate investment firm Tooley Interests. which acquired the site in 2012 for approximately $12.24 million.
Tooley Interests is currently developing a smaller mixed-use apartment building in Culver City.
The Vine Street development - slated for a property directly east of an ArcLight cinema multiplex - joins a slew of similar developments now under construction or in the planning stages.
On the opposite site of Vine, the facade of a Netflix-anchored office and housing complex from Kilroy Realty is now taking shape.
South across De Longpre Avenue, Onni Group is planning a 21-story apartment tower.
North across Leland Way, Essex Property Trust is in the midst of construction at its 200-unit Essex Hollywood apartment complex.
- Hollywood (Urbanize LA)