CIM Group has begun site preparation work and will soon start construction of its controversial 22-story Sunset Gordon tower in Hollywood.
The 1.7 acre site, home to 1920s-era building that housed a closed Old Spaghetti Factory restaurant, was bought in 2006 by Portland-based Gerding Edlen for about $20 million. The developer then went on to win a record 17 entitlements from the Department of City Planning, including exceptions for height, density, zoning, residential and commercial parking and signage, according to the LA Weekly.
Neighborhood activists, who wanted to preserve the historic architecture and objected to the project’s entitlements, sued the city to halt the project, which eventually forced Gerding Edlen to file a notice of default on its $9 million land loan.
Los Angeles-based CIM Group, which already has significant holdings in the Hollywood area, then bought the property at the northeast corner of Sunset Boulevard and Gordon Street in August last year.
Since then, CIM said it has proceeded with the development based on design drawings drafted in conformance with the property’s existing entitlements.
CIM said the high-rise will house a 301 residences, 39,000 square feet of office space, 13,500 square feet of ground floor retail and a 21,000-square-foot public park.
The Sunset Gordon development will include a re-creation of the original 1920s Spanish architecture facades along Sunset Boulevard and part of its Gordon Street frontage. Set back from this “jewel box” building, the tower will include office space on the third and fourth floors, with residences on floors 5 through 22 that will offer panoramic views. On-site amenities will include a pool deck on the fifth floor, a business center with a conference room, as well as a fitness center.
CIM said building demolition permits were issued by the Los Angeles Building Department in January, and work was completed on Feb. 21. Prior to demolition, hazardous materials abatement work was completed, and the wood flooring was removed and recycled.
In December, CIM and the Hollywood Heritage, a nonprofit group dedicated to preserving historic Hollywood, amended the terms of an agreement to redevelop the property permitting its demolition on the condition that the developer re-create the original 1920s building style. The terms include preserving, restoring and using the original heavy timber trusses and a fireplace mantle from the building’s central hall as well as relying on the design of its existing windows during the re-creation process. CIM said these historic building elements have been carefully removed and are in storage.
CIM said it expects the construction of Sunset Gordon will be completed in the first quarter of 2014.
Source: Los Angeles Business