Kilroy Realty Corp. Reveals Plans for Mixed-Use Project in Hollywood
By Alex Girda, Associate Editor
One of the most active commercial real estate companies in the Los Angeles market has unveiled plans for a large creative media mixed-use office campus at the recent Hollywood Economic Development Summit. Kilroy Realty Corporation will be developing its proposed project known as The Academy on a site acquired in Q4 of 2013 from The Academy of Motion Pictures Arts and Sciences. The site is an entire Los Angeles city block located between Vine Street, DeLongpre Avenue, Ivar Avenue and Homewood Avenue.
Meant to create a mixed-use community on the block, KRC’s plan calls for three four-story creative office buildings and a 23-story residential tower to be built on the premises. The three office buildings will range in size between 78,000 and 100,000 square feet. The project includes a copious amount of open space; approximately 40 percent of the four-acre site will remain open space with the residential tower set to take shape on the northwestern corner of the campus.
The public area will be outfitted with art and create a large public gathering area, featuring most of the development’s planned 20,000 square feet of street-level retail. The development will open up at the corner of Vine and DeLongpre. Kilroy has designed the project to cater to entertainment, media and technology tenants that require both small and large spaces.
The largest of the three office buildings will reportedly feature a design scheme sourced from the historic mid-century bow trussed buildings that are currently making waves in the creative office market. The executive architect on the project is House & Robertson with the Shimoda Design Group also playing an important part in the development process.
All three buildings will feature terraces, the cascading design providing tenants with the opportunity of having individual space including private entrances and outdoor meeting areas. The buildings will be connected by a series of landscaped passageways that run through the center of the development. Construction is expected to begin during Q1 of 2016, and will be aimed at receiving LEED Gold certification from the U.S. Green Building Council.
Image courtesy of kilroyrealty.com
Tags: Architecture/Design, Commercial, Consumer, Conventional - Market Rate, Development, economy, Financiers, Hollywood, Investors, Kilroy Realty Corp., leasing, Local, Los Angeles development, Los Angeles Lead Story, mixed-use, mixed-use community, multi-family, Municipal, National, Office, Owners, Policy, Professional, Regional, Residential, Shimoda Design Group