In Hollywood, the longtime home of Ametron Electronics is being cleared away for a mixed-use development from Mill Creek Residential Trust.
The property, located at the southeast corner of Selma Street and Argyle Avenue, is approved for the construction of a seven-story building featuring 276 studio, one-, and two-bedroom apartments above ground-floor retail space and a four-level, 412-car subterranean parking garage. Mill Creek will be required to set aside 13 of the apartments as very low-income affordable housing in exchange for density bonus incentives approved by the city.
Togawa Smith Martin, recent merged with parent company AC Martin, is design apartment complex, which is named Modera Argyle. Plans call for a modern podium-type building wrapped with cantilevered balconies and mesh screens. Residential amenities interior would include a courtyard swimming pool and an upper-floor terrace deck.
According to a LoopNet profile advertising the project's 27,000 square feet of ground-floor commercial space, completion of Modera Argyle is expected in 2024. An environmental study estimated a roughly 30-mont construction period for the development.
The project is the latest in a series of new mixed-use and multifamily residential developments in the blocks surrounding Metro's Hollywood/Vine Station.
North across Selma Avenue, DLJ Real Estate Capital Partners completed work on the 507-unit El Centro Apartments & Bungalows in 2018, while a 287-unit apartment complex from Camden Property Trust opened on the opposite side of Argyle in 2016. To the east, Kilroy Realty has converted a former CBS radio broadcast facility into a mixed-use complex consisting of housing, offices, and retail.
To the south on Sunset Boulevard, two additional housing and retail projects from Essex Property Trust and Hanover Company are now in development. And adjacent to Modera Argyle, developer Crescent Heights is planning a pair of 28-story apartment towers.
Mill Creek is no stranger to Hollywood, having recently completed the two-building Modera Hollywood development one mile west at Highland Avenue.
Ametron, an electronics supply business founded in 1951, relocated from the Modera Argyle property prior to the start of demolition. The business owners spoke in support of the Mill Creek project at a City Planning Commission hearing in 2020.
- Modera Argyle (Urbanize LA)