According to an agenda item from today's meeting ot the Los Angeles City Planning Commission, local real estate firm Hudson Pacific Properties (HPP) has revised its plan for a new high-rise office building in Hollywood.

The proposed tower, slated for a 1.55-acre parking lot at 5901 Sunset Boulevard, has received a design overhaul in response to community feedback and staff review.  HPP now intends to build a 15-story, 230-foot tall structure, in lieu of the 18-story, 260-foot tall building from its original plan.

The height reduction would be achieved by cutting down on the project's parking component.  While the original plan called for seven above-grade levels and 1,118 parking spaces, the revised proposal would include a smaller five-story podium with 830 vehicle stalls.

Other elements of the project, such as its 274,000-square-foot office component and 26,000-square-feet of ground-floor commercial space, are unchanged.  The design of the tower would still utilize tiered building heights which scale down to six stories along the residential neighborhood to the north of the development site.

The city has also negotiated a development agreement with HPP which would provide $1.75 million for a variety of civic causes, including local schools, affordable housing and the proposed Hollywood Central Park.

A budget and groundbreaking date for the 5901 Sunset are currently unclear.  Earlier records had pointed to a 27-month construction timeline for the tower, with completion expected in 2017.

The project follows HPP's similar Icon development at Sunset Bronson Studios, which has been fully leased by the video streaming provider Netflix.