Hollywood California Revival – Millennium Hollywood
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Massive new 1 million square feet mixed use project announced for Hollywood, California at Hollywood and Vine. Project valued at $1 billion includes two towers with the tallest at 48 stories while preserving the 13 story iconic 1956 Capital Records tower.
The Millennium Hollywood project would be primarily residential, but would also have a hotel, office, retail, and restaurants. Millennium Partners bought the 13 story Capital Records building and the parking lot in 2006. Redevelopment plans were shelved due to the commercial real market collapse, but have now been restarted. The approval process is anticipated to take 18 months before construction can begin. What a change in the last decade or so for Hollywood.
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