Los Angeles City Council gave unanimous final approval to the rather large Frank Gehry designed mixed use project at 8150 Sunset. This was after several concessions by the developer, Townscape Partners, including reducing the overall height from 234 feet to 178. Townscape also agree to spend $2 million to keep traffic from getting worse in the area.
The project will include a complex of five building to house 229 residential units and 60,000 square feet of Los Angeles net lease retail commercial space at the corner of Crescent Heights to replace a strip mall and a 1960s era bank building.
In fact, the 60s era bank building was another bone of contention as Los Angeles’ Cultural Heritage Commission wanted it designated a city landmark. Gehry is going to tear it down anyway. It’s a 60s design that hasn’t aged well. I presume the Mc Donalds is also coming down?
As always, NIMBYs are threatening to revolt and sue. Nothing new about that as it happens on almost all big projects.
New Los Angeles triple net retail restaurant space available
Keep in mind though that there will be 60,000 square feet of new Los Angeles, Sunset Strip retail / restaurant space and possibly some office space. Nothing has been announced regarding office space at this time.
As always, if you have any interest in the commercial space, I’ll do what I can to facilitate your needs. Give me a call, Scott Harris Realtor at 310-473-4789.