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Developer Awaits Approval of Hollywood Condos

LOS ANGELES-The local investor is proposing a 194,000-sf loft and retail project that he plans to build on a prime Hollywood parcel. The project, estimated at between $50 million and $60 million, would rise on the corner of Franklin and Highland.

By Erin Cassin | Updated on May 14, 2001

LOS ANGELES-As buildable lots continue to be a scarce commodity among multifamily developers, one local investor-developer is awaiting approval to construct a six-story loft and retail project on a prime Hollywood parcel.

If the project is approved, developer Jeff Greene tells GlobeSt.com he hopes to commence construction this fall or winter at the corner of Highland Avenue and Franklin Avenue. “It’s a phenomenal piece of land,” Greene tells GlobeSt.com. “Where can you find 194,000 sf of available land literally two blocks from the heart and soul of Hollywood?”

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