Today we are getting our first look at the new development coming to the corner of Fountain and Cahuenga in Hollywood, which the developers promise will not be "luxury" housing, unlike pretty much everything other new building going up in the neighborhood (and around Los Angeles). The mixed-use apartment complex will be seven stories tall and have 369 rental units, including studios, one-, two-, and three-bedrooms, 12 live/work units, and 30 micro units (exact size not specified), plus two levels of underground parking with 569 parking spaces and 2,570 square feet of commercial space on the ground floor. Also on deck: 40,600 square feet of open space and 410 bicycle parking spaces, all as outlined in a new this Environmental Impact Report, via Building LA.
The project will mostly replace surface parking lots, but some existing structures will also have to be demolished, including a single-family residence, a three-unit apartment building, two office buildings, and an auto repair company. Developers have said the new complex will be "an opportunity to provide rents more to the working person," but it's not clear yet if the reasonable rents will apply to all the units, or just the 30 micro units. Accorded to BLA, work is expected to start in late 2015 or early 2016 for an opening in 2018.
The EIR has a lot of information on how the new development will impact the area, but, strangely, no information on how that swooping "decorative architectural projection" will impact our eyes.