Case Studies & Examples / Housing / Mixed Use / Parks

“CIM preparing construction on Sunset Gordon tower in Hollywood”

March 9, 2012

“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.”

To continue reading, go here: http://www.bizjournals.com/losangeles/news/2012/03/09/cim-preparing-construction-on-sunset.html?page=all.

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