A Look at Capitol Records Towers Development

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We have a bit more information on the just-approved Millennium Hollywood project and its 35- and 39-story towers, set to flank the Capitol Records Building. This might be a good news/bad news situation. On the positive side, the developer has released details of some of the community benefits that they’ve agreed to provide:

— $50,000 going to a new skate park somewhere in Hollywood.
— A public observation deck on top of the hotel building at Ivar and Yucca.
— $4.8 million towards two affordable housing projects in Council District 13 (Mitch O’Farrell’s district, which includes Hollywood).
— A “transit demand management” program that includes “subsidized Metro passes, monthly parking for Metro commuters, daily discounted parking for commuters, shared vehicle parking, circulation shuttle, parking tracking services.”

But then there’s also one of the majorly weird things about this project: the developers have never actually said exactly what it is that they plan to build, and that didn’t seem to slow the approvals process down. They were able to present “conceptual” plans and get approvals to build up to a certain density with a certain amount of square footage dedicated to particular uses (e.g. hotel, gym, etc.). But it turns out the latest rendering (what you see up top) is actually pretty close to what will be built…

Read More…[curbed.com]