CIM Group has filed plans to build the tallest apartment building in West Hollywood on the site of an aging concrete plant.
The firm aims to build a 34-story residential tower at 1000 La Brea Avenue on a 1.6-acre site currently occupied by the 60-year-old Cemex Hollywood Concrete manufacturing facility, Urbanize Los Angeles reported.
CIM acquired the Cemex parcel and an adjacent property at La Brea and Sycamore avenues for $47M in June. Earlier this year, the company filed plans to build a 208K SF office building at 1011 North Sycamore Avenue.
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About a quarter of the 514 apartments planned for the tower at 1000 La Brea will be reserved for affordable units. The building will include 30K SF of ground-floor retail and parking for 674 vehicles. A landscaped deck is planned for the roof.
CIM Group has several projects under development along La Brea Avenue on the West Hollywood-Los Angeles border. The company is building a new nine-story hotel at 1040 N. La Brea Avenue, replacing an auto body repair shop.
In August, CIM Group announced it is looking for a buyer for The Lot on Formosa in West Hollywood, an historic 540K SF production facility where several classic films have been made and HBO currently produces some if its hit TV shows.
The 11-acre Lot on Formosa, located at 1041 North Formosa Ave. in West Hollywood, includes seven soundstages encompassing 87K SF, several historic production office buildings, new office buildings and two large parking garages built by CIM Group.
The studio property dates back to the silent film era in 1918, when it was owned by stars Mary Pickford and Douglas Fairbanks. Famous tenants have included Samuel Goldwyn, Howard Hughes and Frank Sinatra.
The long list of Hollywood blockbusters made at The Lot includes Apocalypse Now, The Social Network and Some Like It Hot.
CIM Group acquired The Lot on Formosa in 2007, and subsequently expanded the studio complex, modernizing existing structures and constructing three new office buildings and a restaurant.
Last year, HBO and HBO Max signed a long-term lease on 161K SF of sound stages, support buildings and production office space at The Lot. Current tenants also include the Oprah Winfrey Network, Showtime, BET, Live Nation and Discovery.
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