Plans to construct a $1 billion mixed-use complex near the Capitol Records Building in Hollywood have been filed with the City of Los Angeles. Developer MP plans on constructing Hollywood Center, which is just the latest project in a series of tall buildings proposed near the Capitol Records Building.
Hollywood Center will feature the largest on-site affordable housing of any market-rate development in the history of Los Angeles. The project would create 1,005 residential units that will include 133 apartments for low-income seniors. The proposed development is slated to be built on 4.5 acres of parking lots on either side of Vine Street, have towers of 46 and 35 stories as well as mid-rise buildings standing 11 stories. Hollywood Center will also feature more than 30,000 square feet of street-level restaurant and retail space as well as a pedestrian walkway between Ivar and Argyle Avenues.
An interesting note regarding the project is that it would finally fulfill the vision of the Capitol Records Building’s original architect, Louis Naidorf, who always envisioned taller buildings surrounding his landmark structure. Construction of Hollywood Center is expected to begin in 2022.