City Council approves Hollywood Millennium*

millennium.jpgWith support from Mayor Garcetti and Councilman Mitch O'Farrell (who replaced Garcetti in the Hollywood council district), there wasn't much doubt about the vote - despite protests from neighborhood groups. The vote was 13-0. All told, the NY developers will be able to build more than 1 million square feet of apartment, office, hotel and retail space on land surrounding the iconic Capitol Records building. It's a big win for those pushing a denser, more vertical L.A.; it's a big loss for homeowner groups concerned about increased congestion.

*From KPCC:

Opponents of the project wanted to delay the vote, asserting that the towers will be built on an active fault line. Council members said more geo-technical studies would be required before any final building permits for the project are issued. The issue had re-surfaced behind an attorney, Robert P. Silverstein, who accused developers Millennium Partners of misrepresenting the project's proximity to an active fault. Millennium co-founder Philip Arons released a statement accusing Silverstein of "bluster", but just this week USC earthquake expert James Dolan approached the city's Department of Building and Safety with his own concerns about the project's proximity to a fault line, leading the department to request a new round of seismic tests from the developers. In addition, the California Geological Survey issued its own investigation into the Hollywood fault and surrounding "splay faults" that may be active, an investigation that may not be finished until the end of the year.

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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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