Mill Creek Residential Trust is one step closer to building its second mixed-use complex in Hollywood, following a vote today by the Los Angeles City Planning Commission.
In a unanimous vote, Commissioners approved plans for Modera Argyle, slated for a property at the southeast corner of Selma and Argyle Avenues. The proposed development calls for razing six existing buildings, followed by the construction of a seven-story edifice featuring 276 apartments - in a mix of studio, one-, and two-bedroom floor plans - above ground-floor retail space and a four-level, 412-car subterranean parking garage.
Modera Argyle is slated to include 13 very low-income affordable units, and potentially space for a grocery space at its ground floor.
Designed by Togawa Smith Martin, the project would consist of a contemporary podium-type building standing approximately 99 feet in height. Its exterior would be lined by cantilevered balconies and mesh screens, while its interior would offer open space amenities such as a courtyard swimming pool and an upper-floor terrace deck.
Construction is anticipated to occur over approximately 30 months, with project completion anticipated in 2023.
Recent years have seen several similar projects replace parking lots which flank the Modera Argyle site.
A block north at Hollywood Boulevard, Clarett West Development has build more than 1,000 apartments adjacent to the Pantages Theatre.
West across Argyle Avenue, Camden Property Trust has built a mixed-use structure featuring housing above an Equinox Fitness.
Other projects from Hanover Company and Essex Property Trust are in the works a block south on Sunset Boulevard.
Modera Argyle is also wrapped by a parking lot serving the iconic Hollywood Palladium concert hall, where developer Crescent Heights is planning a pair of high-rise apartment towers.
Roughly one mile west, another project from Mill Creek Residential - Modera Hollywood - is fully-framed at the intersection of Selma and Highland Avenues.
The Modera Argyle site is the long time home of Ametron, an electronics supply business founded in 1951, and located at the Argyle property since the late 1990s. The business owners have announced plans to relocate elsewhere in the City of Los Angeles, and spoke in support of the proposed development.
- Modera Argyle (Urbanize LA)