There's still no museum headed for the full city block just south of Sunset and Vine that was once supposed to house the Academy of Motion Picture Arts and Science's movie museum, but there will be a big supermarket and maybe some hotel rooms. Yay? In addition to loads of creative offices, retail/restaurant space, and a 23-story tower, new plans (via Building LA) reveal that the development—now called Academy Square, presumably in remembrance of all the businesses that had to move out to make way for that failed movie museum plan—is going to have a roomy, 40,000-square-foot market, clearly throwing down a challenge to the Trader Joe's up the street at Hollywood and Vine.
With the flurry of hotels in the planning or construction phases around this part of Hollywood, it's not surprising that developers Kilroy Realty are considering two potential plans for their 23-story tower, which will sit on the corner of Ivar and De Longpre. As outlined in the project's environmental documents, one plan would allow the tower to have up to 250 purely residential units, but the other possible plan would split the tower between residential and hotel space, with up to 100 hotel rooms in place of as many as 50 of the residences. Regardless of which plan ends up moving forward, the tower will incorporate those ever-essential fancy amenities like a gym, a pool, and private open space.
When the sale of the property to developer Kilroy Realty was announced earlier this year, the new owners said they were planning to drop around $300 million on developing the site, which is bordered by Vine Street and De Longpre, Homewood, and Ivar Avenues. Kilroy's also spending about $400 million on the nearby Columbia Square mixed-user. The environmental report says that the project may receive LEED certification and is scheduled to start construction in late 2015, with completion slated for early 2018.