Hollywood's Mixed-Use Academy Development Getting Underway
Developer Kilroy Realty is preparing to begin work for the Academy, the Los Angeles-based developer's latest mixed-use complex in Hollywood. An informational sign that has been placed at the project site now indicates that demolition, shoring, and grading activities are imminent.
The proposed development, slated for a 3.5-acre site at 1341 N. Vine Street, would consist of multiple high-rise and mid-rise structures, containing up to 250 apartments, 235,000 square feet of office space and 37,000 square feet of street-level commercial space.
Local architect Joey Shimoda is designing the mixed-use development, which will be highlighted by a 23-story tower at the northwest corner of the property.
This is the second major ground-up development for Kilroy in the neighborhood surrounding Hollywood & Vine, following the similar Columbia Square complex, which is built around the shell of a former CBS radio facility. That property, which also features a high-rise apartment building, now boasts tenants such as guitar manufacturer Fender and Viacom.
Per Kilroy's most recent earnings call, the first phase of construction will consist of the project's office component, which is centered around an internal paseo. The high-rise tower will break ground at a later point. Total project costs are estimated between $425 million and $450 million.
Just west, construction is also underway for a residential-retail complex known as the Rise Hollywood, as well as a 200-room Godfrey Hotel. East across Vine Street, Onni Group has filed plans for an eye-catching 21-story tower.