Yee-haw, development in the northern part of Hollywood is not slowing down, for litigious neighbors or anyone. On Friday, the owners of the Capitol Records Tower, Millenium Partners and Argent Ventures, announced plans for a big mixed-use development that would straddle Vine Street in the area around the Tower, just south of Yucca Street. Right now, the 4.47 acre site is mostly parking lot. A press release from the developers says the project could include two new towers that could go as high as 585 feet--or 48 stories, according to the LA Times. That's way higher than the 28 story tower in the Columbia Square development at Sunset and Gower, which has had some Hollywooders clutching their pearls.
The Capitol Records developers have been clear that the plan they're currently proposing is purely conceptual and will change with the approval process, but right now it includes "up to approximately 492 residential units, 200 luxury hotel rooms, 250,000 square feet of Class A office space that includes the Capitol Records Tower and [little neighbor] Gogerty Building, 35,000 square feet of restaurant space, 40,000 square feet of sports club use, and 15,000 square feet of retail space."
The towers will be designed by Gary Handel Architects, and Roschen Van Cleve Architects will oversee preservation of the Capitol Records Tower and Gogerty Building. The firms will work together on plazas and pedestrian areas. Millenium and Argent expect approvals to take at least 18 months, and construction to take about three years, but you might want to add on a Standard Hollywood Development Lawsuit Buffer.
· Big building project planned around Capitol Records Tower [LAT]