A major developer in Hollywood has filed plans to build a mixed-use, 146-unit apartment building on the Walk of Fame.
CIM Group, based in Mid-Wilshire, has proposed building the five-story, 90,000-square-foot building at 6611-6637 Hollywood Boulevard, Urbanize Los Angeles reported.
Before construction could begin on the apartment complex at Hollywood and Cherokee Avenue, the developer would have to demolish single-story commercial buildings that house a ballet studio and a fantasy hotel and lounge.
The proposed project comes seven years after CIM tried to develop the same property with a 146-room hotel.
Its latest project, designed by Culver City-based KFA Architecture, would include 146 studio and one-bedroom apartments above 8,500 square feet of curbside shops and restaurants. An underground garage would serve up to 89 cars.
Entitlements include Transit Oriented Communities affordable housing incentives that allow larger and taller buildings with fewer parking spaces in exchange for 12 affordable apartments for extremely low-income households.
The new complex would be wrapped in gray and white metal siding with inset windows. It would include a courtyard and swimming pool, with two rooftop patios overlooking Hollywood Boulevard and the Hollywood Hills.
Nearby mixed-use developments include the 224-unit Archer apartments across Cherokee Avenue and a complex of 633-unit apartment towers, offices and shops and restaurants along the Walk of Fame.
CIM Group, with $31.2 billion in assets according to its website, has been heavily invested in Hollywood.
It was the developer behind the once-troubled Sunset Gordon, a 22-story apartment tower forced to empty its tenants during a protracted legal dispute. It has since been renamed Lumina and sold to a Canadian investor.
In May, CIM Group moved forward with plans to build another 109-unit apartment building across the street from the Gordon project. Last month, it sold the site at 6007 Sunset Boulevard in a $32.1 million deal.
– Dana Bartholomew
The post CIM Group plans 146 apartments on Hollywood’s Walk of Fame appeared first on The Real Deal Los Angeles.
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