The ad tower is part of TrizecHahn's $615-million Hollywood and Highland mixed-use development, which proponents say will revitalize Southern California's most famous community. In addition to providing a new home for the annual Academy Awards presentation, the complex will also include office, retail and hotel space.
The ad tower could generate millions of dollars a year in revenue for the project. But neighborhood residents say it will block their own views, overwhelm local streets and make the area seem more like Times Square than the undisputed entertainment capital of the world.
Most of the redevelopment project, not far from Mann's Chinese Theatre, is expected to open later this year.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
