Beverly Hills-based developer Sonny Astani announced today that he's closed on a 1.9-acre site across the street from the Hollywood/Western Red Line station, with plans to build 280 apartments, 25 affordable units, 12,000 square feet of retail, and an elevated public park. Astani paid $10.75 million for the parcel that straddles the southern side of Hollywood Boulevard, just west of Western. That stretch has a mish-mash of dilapidated and historic buildings, with Astani promising to maintain the latter as part of the development, which he's dubbing High Line West--"Astani will be preserving the facade of Falcon Studios," according to a press release. He'll "also retain a city landmark brick building on the site, which contains a recording studio, by restoring and building around it, and then incorporating it into High Line West." Astani says he's long had his eye on this spot, since it's got a subway station and is sandwiched between Hollywood and Los Feliz. The area is seeing a bit of action lately as mixed-use senior housing is going up across the street, and a Target is planned for Sunset and Western.
· Sonny Astani Archives [Curbed LA]