And Asset Management Proposes 60-unit Transit-oriented Development in Hollywood, CA

A new development is proposed for 1445 North Las Palmas Avenue in Hollywood, Los Angeles. This project aims to construct a seven-story mixed-use building that will accommodate both residential and retail spaces. The site, once home to the Hollywood Playhouse theater, has remained vacant since a fire in 2022.

Development and Design

And Asset Management is the project developer, while Urban Design Specialists are responsible for the building’s design. The plan includes 60 residential units comprising studios and one-bedroom apartments. Additionally, a commercial space of 500 square feet will be part of the development.

Building Features and Amenities

The proposed structure will also include a 6,000 square-foot rooftop deck, enhancing the living experience for residents. Parking will be available with a garage designed to accommodate 26 cars.

Affordable Housing and Incentives

To facilitate the project's approval, the developer has applied for Transit Oriented Communities incentives. This request aims to permit a larger building in exchange for setting aside nine units as very low-income affordable housing.

Application and Timeline

The application for this project was submitted to the Los Angeles Department of City Planning last week. The timeline for the start and completion of construction has not yet been disclosed. The project site is conveniently located just south of Sunset Boulevard.