After three years of work, Gaw Capital USA and DJM have wrapped up work on a $100-million revamp of what was formerly known as the Hollywood & Highland Center.

View from Walk of FameOvation Hollywood

The Walk of Fame landmark, now branded as Ovation Hollywood, was acquired by Gaw Capital and DJM in 2019 for $325 million - a move billed as a move billed as "the largest single asset retail transaction outside of Manhattan that year." After that point, the owners tapped architecture firm Gensler to reimagine the complex - most notably by ditching the Babylonian-themed archway and elephant statues which recreated set from the D.W. Griffith film Intolerance. Instead, it emphasizes classic Hollywood, with an Art Deco theme and new artwork by Geoff McFetridge opening onto the large courtyard at the center of the complex.

“The property was desperate for a new vision and a team to bring it into the future of retail,” said Dan Lee, Gaw Capital USA's managing director of investments in a press release. “We partnered with DJM to redevelop a property lacking relevancy and recognition––despite being located on one of Hollywood’s most iconic intersections––by way of intersecting innovation and history adequately, we’ve rebranded and modernized to create a dynamic world that tourists seek out and locals love.”   

View looking north toward the Hollywood SignOvation Hollywood

Ovation, per a leasing deck, is less retail-centric than the former Hollywood & Highland Center. Of its total 475,000 square feet of space, Roughly 240,000 is dedicated to shops and restaurants, with 40,000 square feet of area set aside for events, and 150,000 square feet of space on the upper floors for offices.

New tenants that have signed leases since the makeover include Cafe de Leche, Tacos Neza, and a pop-up shop for Kylie Jenner's Kylie Cosmetics. Additionally, new "experiential retail" and entertainment spaces have arrived at the complex, including the comedy club Kookaburra Lounge on the fourth floor, and an as-yet unannounced concept.

View from upper level looking northOvation Hollywood

Although Hollywood Boulevard's retail environment has struggled since the onset of the Pandemic, Gaw and DJM say that foot traffic has spiked in the past year at their property, rising 110 percent with 500,000 additional visitors. That increase is attributed to a series of events held at the complex, including the Bob Marley "One Love Experience." The complex also benefits from visitors to the the Dolby Theatre, home to the Academy Awards, and the abutting TCL Chinese Theatre.

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