HOLLYWOOD NEWS

Big building project planned around Capitol Records Tower

A computer rendering shows the proposed development around the Capitol Records Tower on Vine Street in Hollywood. Buildings on the 4.5-acre site would be situated to preserve views of the tower. (Handel Architects / May 14, 2011)

Owners of the tower are seeking approval for Millennium Hollywood, a 1-million-square-foot project including two skyscrapers that would be mostly residential but would also have a hotel, offices, restaurants and stores.

By Roger Vincent

Los Angeles Times

May 13, 2011

After going mostly on hiatus during the economic downturn, Hollywood is poised to debut a major development project around the famed Capitol Records Tower near Hollywood and Vine.

The owners of the Capitol Records building on Vine Street are seeking approval to build 1 million square feet of structures, including two skyscrapers, surrounding the famous cylindrical office tower resembling a stack of record discs. The mixed-use complex could be valued at as much as $1 billion.

The Millennium Hollywood project, proposed by developers Millennium Partners and Argent Ventures, would be primarily residential but also have a hotel, offices, restaurants and stores. It would be built on the Capitol Records parking lot and another parking lot across Vine Street.

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