5555 Hollywood was a LEED Certified, mixed use, transit oriented development one block from the Hollywood and Western MTA station. In response to its intensely urban context this high density building was carefully configured to respond to the active urban pedestrian life on Hollywood Blvd. and the lower scale residential buildings behind. Because of the highly restrictive Planning Department Specific Plan that applied to this site, the government approval process required extensive entitlement requests, an exhaustive EIR analysis and negotiations with very contentious neighborhood groups.

This one acre site was originally planned as a condominium project with 90 market rate units. In response to changing financial conditions it was reconfigured using SB 1818 Density Bonus regulation to120 apartments (80% market/20% Very Low Income) in four stories of Type III construction over 6,000 s.f. of retail and 190 parking spaces in a Type I concrete podium. The parking structure was 2 ½ levels semi-subterranean construction.

Key Accomplishments:
  • Obtained all entitlement approvals including Vested Tentative Tract Map, Specific Plan modifications, site plan approval and EIR certifications despite opposition from a small group of contentious neighbors
  • Received entitlement support from Councilman Tom La Bonge CD4, CRA, Planning Department and the Neighborhood Council through extensive personal outreach
  • Prevailed against NIMBY's appeals at the Area Planning Commission, City Council PLUM committee and the full City Council
  • Received "Pink" and "Yellow" sheet approvals from Department of Real Estate for future condominium sales
  • Prepared all project budgets and schedules during project feasibility phase
  • Provided monthly reporting to Investors Goldman Sachs Urban Investment Group
  • Project costs remained within 1% of budget, all timeline milestones were met
  • Performed extensive market research to determine maximum revenue potential
  • Retained and managed design, engineering and construction consultants
  • Led value engineering process with design team and general contractor starting at the Schematic Design phase and kept construction costs within 5% of pro forma budget
  • Retained Real Estate broker to market the fully entitled site for sale. Negotiated terms and conditions of purchase agreements
» View Images

Location:

5555 Hollywood Blvd.,
Mixed Use, Hollywood, CA

Developer:

Bond Companies

Services Provided:

Due Diligence/Acquisition Support
Entitlements
Project Management
Construction Management

Consultants:

Architect: Koning Eizenberg Architects
Structural Engineer: KPFF Engineering
MEP: Glumac
Civil: Mollenhauer Group
Landscape: Ahbe Landscape Architecture
Pre-construction: Taisei Construction
LEED Commissioning: Davis Langdon
Land Use Consultant:
Meshul Brown Associates
Land Use Attorney:
Jeffer Mangels Butler Marmaro