Hollywood's lost an Oscars Outdoors screening venue, but it's gaining retail and office space, plus a 23-story residential tower on the dusty block near Sunset and Vine that was once scheduled to be the home of the Academy of Motion Picture Arts & Sciences' movie museum (now moved to the Miracle Mile on the edge of LACMA's campus). Developer Kilroy Realty paid $46 million for the property about six months ago (the pre-Academy landowners were miffed about the sale, since they felt they'd been pressured to sell to the Academy), and announced they'd put nearly $300 million into building this fancy mixed-user with housing and office space. This latest rendering from Shimoda Design Group certainly looks that expensive.
According to a press release, the northwest corner of the lot (at Ivar and De Longpre) will have a 23-story residential building; most of the 20,000 square feet of retail space will be concentrated on the Vine and De Longpre side, where there will also be a public plaza. The office space, created with entertainment, tech, and media companies in mind, will spread out across three "terraced" four-story buildings; all connected by "landscaped passageways" through the complex's central space. Construction is expected to begin in early 2016.
Sunset and Vine has heated up in a big way, and the hope is that this huge, expensive investment will draw some of that action south on Vine. The area's poised for an upswing: further down the road from this project, there's a humble new hotel set to replace an old, gnarly one; mixed-use supportive housing; and that time-tested bringer of foot traffic, fancy burgers.
· Big Mixed-Use Campus To Transform Vine Street Below Sunset [Curbed LA]