Plans filed with the city’s planning department Tuesday call for a 14-story building with 102 hotel rooms, plus 27 condos, and 11,460 square feet for restaurants at 6140 West Hollywood Boulevard. That address, on the corner of El Centro, is home to a one-story orange building most recently leased by a copying and printing business.
The developer needs city approval to build the project, which would be bigger and taller than what LA's zoning code allows. The developer, Chinese-based Hollywood Culture and Investment Corp Inc., scooped up the property in June for $9.5 million, or about $565 a square foot, which was a record in Hollywood, according to the Los Angeles Business Journal.
"Hollywood is a highly desirable market for foreign investors and its brand name holds more weight abroad than at home," John Tronson, a broker representing Hollywood Culture and Investment, told the business journal.
On the other side of the Fonda is a parking lot where a different developer wants to build a 23-story building with 220 residential units above 4,850 square feet of retail space and a restaurant.
- 23-story building proposed right next to the Fonda [Curbed LA]
- Hollywood Boulevard Plot Readies for Hotel Transformation [Los Angeles Business Journal]
- Mapped: Hollywood's Out-of-Control Hotel Boom [Curbed LA]