Nick of Hollywood is our ears on the street in Hollywood, as you might have guessed. He hears things and reports them to us. It's all hear say of course until something is built, demolished, or converted, but nevertheless we're fascinated.
(image via ia33.org)
Today Nick expands on the Pantages rumors he mentioned. Its old info covered before in the LA Business Journal and discussed on the Skyscraper City Forum. Any new info in 2006? We're still awaiting renderings...
Blvd6200
Address: 6200 Hollywood Boulevard
Location: Hollywood
Description: New York-based Clarett Group is currently in the planning stage for a
major mixed-use development project of approximately 1 million square feet located on Hollywood Boulevard. Clarett Capital signed a 99-year ground lease in January 2005 on the property’s seven acres at the Pantages Theatre, owned by Nederlander.
1000 Rental Units opening in 2008.
Company: Clarett Group
A major mixed-use development project. Blvd6200, currently in the planning stage, is to be a major mixed-use development project of approximately 1 million square feet located on Hollywood Boulevard in Los Angeles. A 99-year ground lease was acquired by Clarett Capital in January 2005 on the property’s seven acres.
After turning away developers for more than two decades, the family that owns the Pantages Theatre is planning a $300 million entertainment-themed development that would surround the Hollywood facility. A deal with an unnamed New York developer could be reached within weeks for a mixed-use project that would contain entertainment, housing and subterranean parking, among other possible features, said Neil Papiano, an attorney representing Nederlander Producing Co. of America Inc.
It would dovetail with other large housing, retail and hospitality developments already under way in the area surrounding the intersection of Hollywood Boulevard and Vine Street.
James M. Nederlander, who runs the family company that owns the Pantages and several acres of surface parking lots along Hollywood Boulevard, wants to redevelop the stretch east of Vine Street as an entertainment and theater destination, said Papiano, a partner at Iverson Yoakum Papiano & Hatch.
Until now, no developer's proposal has measured up to his vision. But nearby projects have taken root, and changed the outlook for the type of project Nederlander has in mind.