The $3-million project will create 20,000 sf of new storefronts that will replace an existing terrace that is recessed from the sidewalk under the building's second floor overhang. The idea is to create what Kuba calls "a more engaging pedestrian experience" by moving the retail and restaurant spaces flush to the sidewalk.

Designed by Gensler Architects, the renovation reconfigures the ground-floor space currently occupied by California National Bank, which will consolidate its operations in a redesigned space south of a new lobby entrance. The renovations will accommodate four to five shops and restaurants that will feature aluminum-and-glass facades with French limestone columns and a metal canopy. The entrance to the office tower will be redirected to Orange Drive.

CIM bought the 12-story, 183,000-sf building at 6922 Hollywood Blvd. in 1998. It is on the same block with the historic Chinese Theatre, Disney's El Capitan theater and the new Hollywood & Highland center. The CIM building was renamed TV Guide Hollywood Center in 2000 when CIM secured TV Guide as a major tenant. Since acquiring the building, the firm has invested approximately $6.5 million in a floor-by-floor remodeling, concluding with the estimated $3-million lobby and ground-floor renovations.

Swinerton Builders, the general contractor, expects the renovation to be completed in about six months. The new retailers should be open for business in the fourth quarter.

CIM Group, with its partners, is a major investor on Hollywood Boulevard and is developing or redeveloping five properties with more than 500,000 sf of retail, restaurant, entertainment and office space. The Los Angeles-based firm, established in 1994, specializes in renovation projects in districts of high population density, including downtown in large cities and main street districts in towns and suburbs.