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Hollywood and Vine: Hello W Hotel, Goodbye Bernard Luggage Co.

Not exactly a surprise, but the LA City Council has given Legacy Partners the go-ahead for their development plans for Hollywood and Vine. The $500 million project includes 61,000-square-feet of retail space, 275 market-rate apartment units, 75 affordable housing units, 150 condominiums and a 300-room W Hotel. While its good news for the continuing gentrification of Hollywood, the development also affects 30 local business who've been given the boot, including a few that have been around since the 1940s. Better stock up on your "exotic" footwear now - soon your cocktails will cost more than the shoes.
City Approves $500 Million Project at Hollywood and Vine [NBC4.TV]