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Legendary Villa Carlotta Complex Getting Hollywood Makeover

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The legendary, landmark Villa Carlotta apartments in Franklin Village has sold for $12.25 million and the new owners will restore and remodel the 1926 Spanish Colonial building to "reposition the property as luxury long-term rentals appealing to individuals seeking an authentic Hollywood experience," according to a press release What does that mean? It means rooftop bar, natch. It also means "a number" of Carlotta's 50 units will become "fully furnished, extended stay apartments catering to the executive engaged in the entertainment, Internet and technology business, traveling to Hollywood to work on a project." New owners CGI Strategies add that the Villa's reboot will still preserve the building's glamorous features (coffered ceilings, mahogany woodwork) while giving it the fancy amenities that luxury renters expect—adding that must-have a hip rooftop lounge and upgrading common areas and interiors.

The storied building was designed by Arthur E. Harvey, the same architect who designed the neighboring Château Élysée (aka the Scientology Center) for the widow of early filmmaker Thomas Ince and it has a substantial place in Hollywood history; it's rumored to have been financed by William Randolph Hearst out of guilt over Ince, who died mysteriously after a trip on Hearst's yacht. Gossip Louella Parsons, who was on the boat trip, and Hearst's mistress Marion Davies were both tenants at the Villa Carlotta, as were producer David O. Selznick, architect Wallace Neff, and A Star is Born director George Cukor.

CGI says that the building's been "untouched" for about 50 years. The Villa Carlotta's multi-million-dollar renovation is expected to be finished in 2015.

· Rumormongering at Villa Carlotta, Where Studios Fit Grand Pianos [Curbed LA]