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RISMEDIA, July 19, 2007—This week, the Los Angeles City Council unanimously approved Blvd6200. Located in Hollywood, adjacent to the historic Pantages Theatre, the 1.1 million square foot development will feature a broad-array of community benefits that address numerous goals and objectives of the Community Redevelopment Agency (CRA) and the Los Angeles City Council. Developed by The Clarett Group, a New York-based firm, the $400 million mixed-use project will be environmentally sustainable (LEED qualified), and will serve as a model for an interactive lifestyle.

“I am pleased the Los Angeles City Council gave its full approval for Blvd6200,” said Eric Garcetti, Los Angeles City Council president. “This project is Hollywood’s most ambitious privately-funded, large-scale redevelopment project to date.”

Designed by Santa Monica-based Van Tilburg, Banvard & Soderbergh (VTBS Architects), Blvd6200 is situated on a seven-acre site that spans both sides of Hollywood Boulevard at Argyle Avenue east of Vine Street. The project will feature a diversity of architectural styles that will combine to create a dynamic urban streetscape. The high-density development will include more than 1,000 residential units of new, market-rate rental-housing of which 10% will be affordable; 40,000 square feet of live/work/office space; 175,000 square feet of retail/restaurant uses; 12,000 square of open, public plazas; and adequate underground parking for all uses, including the Pantages Theatre.

“Blvd6200 will transform parking lots into new-housing opportunities, retail and restaurant destinations that will revitalize Hollywood Boulevard, while ensuring the continued success of the Pantages Theatre for generations to come,” said Veronica Hackett, managing partner for The Clarett Group. “We are especially proud of our voluntary inclusion of affordable housing and the green building characteristics of Blvd6200.”

 Blvd6200’s retail/restaurant component has been designed as urban street-front retail that will activate the Boulevard to create an inherent sense of security that comes with a thriving community.

“By casting the legendary Pantages Theater as the centerpiece of this major project, Blvd6200 will bring a dynamic mixed-use community into Hollywood while respecting the area’s heritage. The addition of new retail and dining opportunities will be pivotal in the transformation of Hollywood Boulevard. Moreover, the developer’s commitment to adhering to the City’s green-building initiatives will serve as a model for other projects that follow,” said Antonio Villaraigosa, mayor for the City of Los Angeles.

Adjacent to the Hollywood/Vine Metro Rail Red Line Station, Blvd6200 will also offer MTA promotional plans to its tenants, as well as include parking for 10 Flex Cars, which will allow for the sharing of cars among numerous residents. Tenants who own hybrid vehicles will receive preferential parking.    

The seven acre development site for Blvd6200 is owned by The Nederlander Organization, headed by James Nederlander, Sr. The land assemblage was completed without eminent domain or displacement of any residential tenants. Nederlander also owns the Pantages Theatre and recently completed a full-restoration of the cultural and historical landmark that is Los Angeles’ version of “Broadway.”    

“Winning unanimous approval from the City Council is a tremendous victory, but it also reflects the unprecedented level of community support that has been generated from more than a dozen civic and neighborhood associations,” said Frank Stephan, senior managing director for The Clarett Group.