$150-Million Hollywood Development Proposed
A $150-million construction proposal featuring a hotel, office tower and a partially remodeled Mann’s Chinese Theatre was announced Wednesday as the first major step in the 30-year revitalization plan to spruce up Hollywood, which once stood for glamour, stardom and posh nightspots.
The proposed Hollywood Center by developer Melvin Simon & Associates of Indianapolis includes a 400-room “European-style” hotel, shops, restaurants, nightclubs, more movie houses in addition to the famed Chinese Theatre, a 28-story office building, a 150,000-square-foot museum that would mark the entertainment industry’s achievements and underground parking for 3,000 cars, officials said.
Construction could begin within 18 months if the Los Angeles City Council approves it.
First Commitment
The project is the first commitment by a developer since the council earlier this month approved the 1,100-acre, 30-year redevelopment plan for the area, which has seen its claim as the world’s film capital tarnished by an influx of drunks, drug users, prostitutes and other undesirables.
Although the development is a private venture that is not expected to draw on public funds for financing, some city officials were on hand at Wednesday’s news conference in Hollywood to endorse it.
“For about 10 years, there’s been a lot of talk about some kind of major mixed-use project, such as this one, coming into the Hollywood area,” said Councilman Michael Woo, whose 13th District includes Hollywood. “But none of the previous projects have gotten this far. Hollywood is worth the risk.”
Officials said Woo’s support for the project was secured when Simon officials agreed to donate up to $1.5 million for social programs to help Hollywood-area residents.
A special feature of the overall Hollywood plan calls for 10% of the tax dollars derived from the redevelopment work to be earmarked for social services, such as providing assistance for the homeless, elderly and other needy groups.
Aid in Securing Parcels
Jim Wood, chairman of the Community Redevelopment Agency, said the agency will help the developer in securing the last of the parcels needed for the nine-acre project to be built on the north side of Hollywood Boulevard between Highland Avenue and Orange Drive. But he declined to be specific about the land that is still needed. The construction, according to plans, is to be on land that is occupied by either aging buildings or parking lots.
Gregory Glass, a senior vice president for Simon, said the first phase would be devoted to providing parking and preliminary street work to ensure that operations at the nearby Holiday Inn on Highland Avenue are not interrupted.
Work on the main project would commence once the initial phase is completed, Glass said.
Project officials said a 25-story hotel operated by a European chain would bring “balance” to the area already served by the Holiday Inn and the remodeled Hollywood Roosevelt, site of the first Academy Awards show in 1929.
The work on Hollywood Boulevard would not disturb the original Chinese Theatre, built in 1927, or the handprints and footprints of such stars as Gloria Swanson, John Barrymore, Marilyn Monroe and Clark Gable at the cinema’s entrance. The cinema’s annex, a 1979 expansion consisting of two separate theater screens, would be remodeled to blend in with the rest of the project, Glass said.
The Mann’s chain would be given first chance at managing the proposed new movie theaters, he added.
Some parts of the project could be completed by 1989, Glass said.
