June 1, 2012
By Neal Broverman
“The sad area next to the Pantages Theater will soon be less horrifying to tourists, as the giant mixed-use Blvd6200 project has broken ground, according to Julie Wong in City Councilmember Eric Garcetti’s office. It took more than half a decade to get here, with octogenarian legal disputes, fightsover supergraphics, and developer switcharoos complicating matters, but crews are now beginning to construct the one million square foot project. Things really got rolling last year when developer Clarett, facing heavy duty financial trouble, sold the project to New York-based DLJ Real Estate Capital Partners. The two companies are now working together to construct the project–its first phase includes 535 apartments and ample groundfloor retail. That phase, valued at $200 million, will hopefully precede a second that will bring double the rentals and retail space. The project will rise six stories, with five levels of underground parking. The 7.3 acre site is owned by the Nederlander family, which owns the Pantages and Greek Theatres, but leased to DLJ for 99 years. Blvd6200 is the first project to start up on Hollywood Blvd. in a while, though DLJ recently brought the nearby Taft building. Meanwhile, Sunset is seeing some action as well.”
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