The design for 8850 Sunset will include street level cafés, pedestrian-oriented restaurants and bars, retail spaces, a five-star luxury hotel and residences.
A surge in apartment conversions, which doubled last year, is likely to intensify as a glut of underused old office buildings in large cities become targets for redevelopment.
The company will develop the first Storyliving by Disney community in Rancho Mirage, CA, with plans to launch additional locations throughout the US in the future.