Our Most Frequently Asked Questions
We are pleased to provide you with responses to some of the questions we are asked most frequently about the Palladium Residences Project.
The Palladium Residences project is located on the same block as the landmark Hollywood Palladium®. The site is bordered by Sunset Boulevard on the south, Argyle Avenue on the west, Selma Avenue on the north, and El Centro Avenue on the east. The Project does not include property under different ownership located on the northwest portion of the site, which is the current location of the Ametron building. Located on 3.6 acres, the Palladium Residences will replace the underutilized surface parking areas on the west and north sides of the Palladium with new community-serving uses.
Preserving the Palladium
Yes, the Hollywood Palladium® is a valuable asset to the City and to the Hollywood community, and the Palladium Residences Project has been designed around preservation of the Palladium. The Project is also developing a restoration and rehabilitation program to further enhance the Palladium’s character-defining features. The Project’s applications will volunteer a condition requiring nomination of the Palladium as a Los Angeles Historic-Cultural Monument in connection with pulling building permits.
Yes. The Palladium will continue to host performances during construction, which will not conflict with scheduled evening events. Plans are being developed to ensure that Palladium visitors will have convenient parking available during construction.
The two buildings will be 28 residential stories and are proposed to be located on surface parking lots to the west and north of the Palladium. The height of the buildings will be approximately 350 feet, which is generally consistent with other buildings in the neighborhood located on major streets.
Approximately 864,000 square feet of new development is planned. When added to the existing 63,354 square-foot Palladium, there will be a total of approximately 927,354 square feet on the site when the Project is completed.
731 units are proposed and planned to operate as rental apartments.
Ground floor retail will be approximately 24,000 square feet, including approximately 5,000 square feet for a restaurant on Sunset Boulevard. This includes 10,000 square feet of retail space fronting Sunset Boulevard within the existing Palladium building, which will be re-occupied with new tenants as part of the Project. The Project’s new retail and restaurant uses will be located along Sunset Boulevard, El Centro Avenue, and Argyle Avenue, enlivening and activating these street fronts for pedestrians. Tenants will be community-serving retailers, such as coffee shops and juice bars.
Yes. More than 30,000 square feet of ground-level open space will be accessible to the public and provide access to and from adjacent neighborhoods. This area will include beautifully landscaped courtyards with benches and water features where Palladium visitors and pedestrians can gather. The Project’s ground-level uses will also be community-serving, providing new dining options for residents and visitors, and new uses such as local coffee shops. An enhancement program will be designed to include additional restoration of the Hollywood Palladium®.
The Palladium Residences will be designed to meet the US Green Building Council’s LEED Silver standard or better. Design, construction and operation will embrace cutting-edge technologies to reduce energy consumption, including natural ventilation, landscaped roof decks, storm water retention, high-efficiency heating and cooling systems, water conservation and recycling.
Yes, a comprehensive transportation study has been prepared in conjunction with the Environmental Impact Report (EIR) which provides information on any impacts and associated mitigations. It is important to note that the Project site is located in a transit-rich area, just two blocks from the existing Hollywood and Vine subway station, and within blocks of 10 bus stops. Hollywood has one of the most dense transit networks in the City, providing many options for travel, including bicycle lanes and pedestrian friendly streets. The Project site is also located within easy walking distance of a great many amenities, including a grocery store, restaurants, movie theaters, and a variety of shops.
Parking will meet code requirements, with spaces in both subterranean and structured parking to serve all of the uses on the Project site. The parking structure has been designed to blend seamlessly with the rest of the Project, and will be on the interior of the Project site.
Yes, the Project’s on-site parking facilities will provide the same number of parking spaces that exist today for the Palladium.
The existing Palladium signs will be retained as part of the historic fabric of the building. New signage will be limited to building identification, wayfinding, and storefront signage similar to existing retail signage in the area. No offsite signage and no digital billboards are planned as part of the Project.
The Palladium Residences Project is located on Sunset Boulevard approximately 900 feet away from the Hollywood Fault according to the latest maps released by the state’s California Geological Survey. Fault studies are required only for projects within 500 feet of a fault, as those buildings would be the most affected. However, the City’s DEIR carefully analyzes all potential seismic issues to make sure that the Project is safe, which is of paramount concern not only to the City but also to the owners of the Palladium Residences.
The Palladium Residences Project represents an investment of more than $500 million in the future of our community. It will create approximately 4,000 construction jobs, and up to 500 permanent new jobs. It will also generate nearly $10 million annually in new tax revenues for essential public services such as fire and police protection. It will ensure that the Palladium is restored and preserved as an entertainment venue, generating revenue for local businesses and city services.
A comprehensive analysis, called an Environmental Impact Report (EIR) has been prepared to carefully study the Project and any potential impacts. This report has been released by the City and is available for public review and comment via the City's Planning Department website.
Unlike some other projects, the Palladium Residences does not seek to build beyond what is already generally allowed on the site. The project does not push the envelope, seek density bonuses or request other similar types of entitlements.
The Palladium Residences’ requested approvals include a General Plan Amendment and Zone Change to provide uniform zoning across the entire site, removing some outdated zoning in portions of the parking lot, will make the entire site consistent with the zoning of neighboring properties. The updated zoning includes a condition requiring nomination of the Palladium as a Los Angeles Historic-Cultural Monument in connection with obtaining building permits for the Project to preserve the Palladium for generations to come.
The Palladium Residences Project has begun the environmental review process required by the State and City. Draft Environmental Impact Report (DEIR) is now available for review by the public, and a series of public hearings will be held to review the project. The DEIR was released by the City in October 2014; with a Final EIR responding to public comments released in early 2015. Hearings will follow in spring and summer 2015, with construction to begin after approval. The Project is anticipated to be completed in 2018.
The Project architect is Stanley Saitowitz of Natoma Architects, Inc. Mr. Saitowitz is an internationally recognized architect who has received numerous awards for his work. He has designed the Palladium Residences Project to seamlessly integrate the new buildings with the Hollywood Palladium®, creating a welcoming, pedestrian-friendly environment, preserving and enhancing the historic elements, while bringing new life to the community.
The Palladium Residences will be a Crescent Heights® Residence. Crescent Heights® is one of the nation’s leading real estate brands. Each Crescent Heights® Residence incorporates the latest technologies and timeless design. Locally, the people behind Crescent Heights® built some of the City’s best multi-family buildings, including the Remington, the Regatta, and they are in the process of constructing 10 Thousand in Century City.
Crescent Heights® is one of the nation’s leaders in the fields of adaptive reuse, historic rehabilitation and revitalization projects. Locally, the people behind Crescent Heights® rehabilitated the Granville in West Hollywood, turning it into one of the region’s first and premier historic rehabilitation projects residential projects. Nationally, they have been involved with numerous historic preservation and rehabilitation projects: the people behind Crescent Heights® led the revitalization of the Wall Street area in New York with their ground-breaking rehabilitation of 25 Broad Street, they performed the magnificent rehabilitation and transformation of the Gale Hotel on Miami Beach and they conducted the award-winning rehabilitation and conversion of the Shelborne in Miami.
The Project website, www.palladiumresidences.com, will have regular updates on milestones, Project information, and links to the City’s planning documents. You can also call the Project’s hotline at 323.992.3206.