Balfour Beatty Completes Hollywood Mixed-Use Tower for Less than Expected
Balfour Beatty Construction recently announced that it has completed a high-end mixed-use tower in Hollywood at a considerably lower cost than was originally estimated. The company’s Southwest Division finished a project it had been developing for real estate and infrastructure investment firm CIM Group at a total cost of $76.2 million, roughly $12 million less than what was initially committed to the project. The change comes from the use of the contractor’s cast-in-place structures, as well as a re-design of the building’s mechanical, electrical and plumbing systems.
By Alex Girda, Associate Editor
Balfour Beatty Construction has completed a high-end mixed-use tower in Hollywood for considerably less than was originally estimated. The company’s Southwest Division finished a project it had been developing for real estate and infrastructure investment firm CIM Group at a total cost of $76.2 million, roughly $12 million less than what was initially committed to the project. The difference results from the use of the contractor’s cast-in-place structures, as well as a re-design of the building’s mechanical, electrical and plumbing systems.
The Sunset and Gordon luxury residential building is located at the cor
ner of Sunset Boulevard and Gordon Street in Hollywood. The 22-story tower will total 547,500 square feet of space and occupies a 1.7-acre lot. The property features 299 upscale apartments, 36,688 square feet of office space, 12,229 square feet of retail and dining space, as well as a parking component that can accommodate 523 vehicles. The office space is located on the building’s third and fourth floors, while floors five through 22 feature the residential component of the development. Resident amenities at Sunset and Gordon will include a pool deck on the fifth floor, a media room, and a fitness center.
The building was designed by GBD Architects and, according to Senior Vice President and Project Executive for Balfour Beatty Construction, Joe Martino, Sunset and Gordon features a re-creation of the original 1920s Spanish-style architecture façades along Sunset Boulevard and a portion of its Gordon Street frontage. This design measure was taken as a result of the developer’s failure to preserve the Old Spaghetti building which was demolished during the early stages of development for the Sunset and Gordon tower.
Image courtesy of cimgroup.com
