Work is finally underway to erect an 18-story tower with 114 "luxury" apartments immediately next to the iconic Capitol Records building in Hollywood, on a plot once dug up over and over again in search of an earthquake fault.
The Irvine-based developer, Related California, is calling its new building "1755 Argyle." Last spring, Related bought the half-acre site for $10.5 million, according to the Los Angeles Business Journal. It’s tucked to the east of Capitol Records and to the north of the Pantages Theatre on the former KFWB studio lot.
Development is popping off in Hollywood, especially in this area. The number of new hotels that are planned or under construction in the neighborhood has soared to 16.
The prior owner of the Argyle property had planned a mixed-user with commercial office space and 95 condos, including 10 live-work units. That iteration was known as "6230 Yucca," and it was in the news quite a couple of years ago, because a state map showed an earthquake fault running underneath it. But after digging multiple trenches, city officials and the 6230 Yucca developer determined there wasn’t a fault after all.
Related has scrapped plans for the condos and office space. In addition to the apartments, its project will include a fifth-floor terrace with a dog run, "oversized" TV, and catering kitchen. It will also include underground parking, according to a building permit filed with the city.
The building was designed by Los Angeles-based Large Architecture, which, among other local projects, has also designed Santa Monica’s big housing development called "Ocean Avenue South." A rendering released by Related shows a glassy facade with undulating overhangs.
Construction is scheduled to wrap up in 2018.
- LADBS Agrees There's No Fault Under 6230 Yucca Site [Curbed LA]
- Continued interest and activity in Hollywood made it the tightest office submarket in Los Angeles County last quarter [Los Angeles Business Journal]
- Mapped: Hollywood’s Out-of-Control Hotel Boom [Curbed LA]