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Student Actors, Not Scientologists, Take Over Former Hollywood-Franklin Apartment Building

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Big sigh of relief, everyone. We have an answer to the canceled leases and mystery tenant going into the formerly for-lease HollywoodFranklin building near the corner of Franklin and Cahuenga in Hollywood. Via the Los Angeles Business Journal:

The American Musical and Dramatic Academy has signed a 12-year lease valued at more than $13 million for an entire 1928 Hollywood apartment building that was recently renovated. The school, which also has a campus in New York City where it was founded, will use the building at 6400 Franklin Ave. as a dormitory for 150 students. It also leased the adjacent parking lot, and will take occupancy of the property in August. The neighborhood supply of baristas and waiters will also receive a healthy dose of restocking thanks to the opening of the new dormitory. Welcome, kids.
· Performance Academy Acts on Hollywood Site (Subscription) [LABJ]
· HollywoodFranklin Mystery: No Longer Leasing [Curbed LA]