Builder Gets More Time to Refine NoHo Plans

The developer who wants to build a 2-million-square-foot retail, hotel and office complex in North Hollywood received a second extension Thursday to allow more time to complete the proposal.

Developer J. Allen Radford won the extra six months from the Community Redevelopment Agency board.

One agency official said she was confident the developer would be able to show he has the financing for preliminary work--including the environmental impact report--as well as the $400 million to build the redevelopment project.

The board did require Radford’s JARCO development company to demonstrate within two weeks that it has the $500,000 necessary to complete the environmental report.

“Before the City Council acts on the extension, he must show he has that,” said Lillian Burkenheim, the CRA North Hollywood project manager.

After the board meeting, Radford said the EIR and much of the other preliminary work was 80% complete and the $500,000 of funding was in place. He said a number of potential tenants had signed letters of intent for 291,000-square-feet of retail space, including restaurants Johnny Rockets and P.F. Chang’s China Bistro.

“Old Navy wants to be there; that would be about 20,000 square feet,” he said. Three health clubs/gyms have submitted proposals and “within the next 30 days, we will have a theater chain.”

Many residents and business owners, however, continue to question the viability of the project.

The Red Line subway opened its North Hollywood station to enthusiastic crowds three weeks ago, yet much of the area surrounding the sparkling new station remains dusty lots and struggling businesses.

“It’s been stagnating,” said Glenn Hoiby, who chairs the citizens committee that is advising the CRA about the project. “I don’t think there is a real commitment by the CRA to get a developer who is able to move forward with a realistic plan and have the financing available.”

Hoiby, an attorney who owns a building a few blocks south of the subway station, said the local business community has suffered during the redevelopment project delays.

Loretta Dash, president of the Universal City-North Hollywood Chamber of Commerce, said she is also disappointed by the slow pace of redevelopment.

“He’s trying to get it leased up,” Dash said. “It’s been slow going for him and so it’s slow going for us.”

The CRA first approved a six-month period of exclusive negotiations with Radford in March 1999 with an option to extend the talks for an additional 90 days.

The original redevelopment proposal was a 43-acre project with 10 sound stages and 400 condominiums, but Radford said he was unable to sign long-term leases for the sound stage tenants.

In March, Radford cut the project size by more than half to 22 acres, with the revised plan including a 250-room hotel, 14-screen movie theater, a health club and more than 200,000 square feet of retail and restaurant space.