Major Development To Arise In North Hollywood

Hollywood.jpg
Hollywood.jpg

NORTH HOLLYWOOD (CNS) – Developers and transit officials are expected to apply today for L.A. city permission to build a $1 billion mixed-use complex that would surround the entrance of the Red Line subway station in North Hollywood and adjacent hub for connecting bus routes, including the well-traveled Orange Line to Warner Center and Chatsworth, a newspaper reported.

The proposal by developer Trammell Crow Co. and the Los Angeles County Metropolitan Transportation Authority calls for a village called District NoHo that would include apartments, offices, stores, bars and restaurants, the Los Angeles Times reported. It would be the largest development at an MTA station in an era that has seen a flurry of construction around train stops as new rail lines branch out around the county.

Development sites around the NoHo train station were assembled by the Los Angeles Community Redevelopment Agency, which was disbanded in 2012. Other new stations such as those being built along Wilshire Boulevard are in densely developed neighborhoods, making it harder to find adjacent sites for new construction.

In North Hollywood, Trammell Crow and its housing group High Street Residential have nearly 16 acres to create a community with 1,500 apartments, a 10-story office tower and various dining and entertainment options. There would be about three acres of open space that could be used for leisure or public gatherings, including live entertainment events, according to The Los Angeles Times.
  
The apartments are to be divided among six different buildings, with two of them containing a combined 300 units designated affordable, or 20% of the total, The Los Angeles Times reported. Renters who earn no more than 60% of the area’s median income at the time would qualify for a lottery to become residents.

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