Last summer, Florida-based real estate investment trust Rescore purchased approximately two acres of land in Hollywood, with the intention of building a low-rise mixed-use complex. Half-a-year later, a set of environmental documents published by the Los Angeles Department of City Planning has revealed new details about the proposed development at 1311 North Cahuenga Boulevard.
Designs from Nadel Architects call for a seven-story structure, spanning across two properties bounded by Cahuenga Boulevard, Cole and Fountain Avenues. The proposed building would range from 82 to 110 feet in height due to elevation changes through the project site. The land is currently developed with a series of small structures, including two office buildings, a single-family home and an automotive repair shop.
The $110 million project would feature 369 residential units, micro units, studio, one-, two-and-three bedroom apartments. These units would reportedly command rents catering to "the working person," as opposed to those in more expensive complexes in development along Vine Street, Hollywood and Sunset Boulevards.
Additionally, the building would feature a full battery of residential amenities. Open space within 1311 Cahuenga Boulevard would include a gym, recreation room and an outdoor roof terrace.
At ground level, the building would feature 12 live-work units and slightly over 2,500 square feet of creative office space along Cahuenga Boulevard. These uses would be served by a two-level underground garage, featuring parking accommodations for 567 vehicles and 410 bicycles.
Exterior materials would consist primarily of painted plaster, glass and textured slats. The project's design would be highlighted by a swooping rooftop canopy, providing both weather shielding and architectural panache.
Construction of 1311 Cahuenga Boulevard is expected to commence in late 2015 or early 2016, with delivery to follow in 2018. However, Rescore and partner Cal-Coast Development will require multiple discretionary approvals prior to breaking ground on the project, including a street vacation and an increase in the property's maximum floor area ratio.
If and when the mixed-use complex starts work, it will join a well documented construction boom near the Hollywood/Vine subway station. North towards Hollywood Boulevard, the J.H. Snyder Company recently broke ground on a long-delayed mid-rise office building. Immediately east across Cahuenga Boulevard, developer Kilroy Realty is planning a $300 million campus with offices, retail, apartments and potentially hotel rooms.