With the proposed Palladium Residences mixed-use project, old Hollywood will meet the future with the addition of two striking new buildings that are planned to serve as a backdrop to the Hollywood Palladium®, keeping the iconic venue as the primary focus on Sunset Boulevard. The project is planned to enliven the streetscape with new dining and shopping opportunities, add beautifully landscaped open space for public enjoyment, and generate new jobs and substantial annual revenues for Los Angeles.
Historic preservation and urban revitalization
Preserving the Iconic Hollywood Palladium®
The cornerstone of the Palladium Residences is the preservation of the landmark Hollywood Palladium® on the world-famous Sunset Boulevard. An integral part of the Project is a restoration and rehabilitation program to further enhance the Palladium's character-defining features. Importantly, the Project's application volunteers a condition that requires nomination of the Hollywood Palladium® for designation as a Los Angeles Historic-Cultural Monument in connection with obtaining Project building permits, thereby ensuring the venue's future for the enjoyment of generations to come.
Designed to Complement the Palladium
The curvilinear profiles of the Project’s buildings were designed by award-winning architect Stanley Saitowitz of Natoma Architects to echo and complement the Streamline Moderne architectural style of the Hollywood Palladium®. The buildings are purposely set back from the street and behind the Palladium in order to frame and provide a backdrop for the venue. The visual articulation of the buildings and their height reflect that of Hollywood's existing nd emerging skyline.
Important Community Amenities
The Palladium Residences will enliven a site in the heart of Hollywood that is currently dominated by empty, asphalt parking lots and vacant storefronts along Sunset Boulevard. New retail and restaurant opportunities designed to appeal to local residents, rather than tourists, will be leased to an array of new businesses, reinvigorating and enhancing life in the neighborhood.
The Project will also add outdoor gathering spaces. New courtyards with trees, lush landscaping, comfortable benches and water features will provide a welcome oasis to pedestrians and serve as entrances into and through the site.
Designed to meet the U.S. Green Building Council's LEED Silver standards, the Palladium Residences will reflect sustainable development at its best. Key elements will include:
- An energy efficient focus throughout the Project, including cutting-edge glass ventilation technologies that will help manage building temperatures, and a green roof to reduce energy consumption.
- Recycling programs that divert landfill waste and storm water recapture and re-use for irrigation purposes.
- Provision of more than 900 bicycle stalls and related facilities for the use of visitors, tenants and guests.
- Locating the project just two blocks from an existing subway station and 10 bus stops.
Sustaining Hollywood's Economic Revival
The Palladium Residences represents an investment of a more than $500 million in the future of Hollywood. It is estimated that the Project will create approximately 4,000 construction jobs, approximately 500 permanent jobs and nearly $10 million annually in new tax revenues for critically important public services such as fire and police protection.