Trammell Crow has won approval to build a 2.2 million-square-foot development in North Hollywood, with nearly 1,500 homes, offices and retail around a subway terminus.
The Dallas-based developer and its affiliate, High Street Residential, received a green light from the Los Angeles Planning Commission to build the project around the North Hollywood Station at Lankershim and Chandler boulevards, Urbanize Los Angeles reported. It would replace a parking lot.
The project, known as District NoHo, will be developed in conjunction with the Metro transit agency and could break ground in 2025 with construction in phases for up to 15 years. The 15.6-acre project, proposed seven years ago, once included Downtown-based Greenland USA.
It will be built at 11163-11347 and 11264-11280 West Chandler Boulevard; 11204-11270 West Cumpston Street; 5300-5320 North Bakman Avenue; and 5311-5373 and 5356-5430 North Lankershim Boulevard, according to the Planning Commission.
What was billed as a $1 billion transit-oriented project in 2019 has been downsized around the B (formerly Red) Line station.
Plans for District NoHo include 1,481 homes, of which 366 will be set aside as affordable for moderate-income households. They’ll be housed in a 20-story highrise with 420 apartments, a 23-story tower with 508 apartments and a 21-story complex with 599 apartments.
Trammell Crow, a unit of Dallas-based CBRE Group, will also build 450,000 square feet of offices and 60,000 square feet of shops, restaurants and bars.
Above-grade parking garages would serve 3,313 cars, including 750 reserved for Metro bus and rail passengers.
The project, designed by a consortium to include Gensler, HKS, KFA Architecture and Relm, would include three plazas containing 2 acres of publicly accessible open space.
It would also feature a new entrance to the subway on the west side of Lankershim, improvements to the G (formerly Orange) Line busway terminus, and new streets and walkways inside the development.
District NoHo will be based on a development agreement to include a new art gallery, funding for a two-way bike trail on Fair Avenue, public art, community events and historical plaques.
The Los Angeles County Metropolitan Transportation Authority may form an Enhanced Infrastructure Financing District to cover the cost of the affordable housing and Metro station improvements, according to a Metro report found by @numble.
— Dana Bartholomew
Read more
The post Trammell Crow wins approval for nearly 1,500 homes in North Hollywood appeared first on The Real Deal.
Powered by WPeMatico