Hollywood's City Commission recently approved site plans presented by the MG3 Developer Group, which wants to build Parc Place, a residential development, by renovating the Hollywood Bread Building.
An earlier proposal called for a mixed-use development offering office, commercial, and residential space, which were to become a project known as ArtsPark Village. However, economic conditions prevented the development from going forward.
The current proposal eliminates the mixed-use aspect of the former effort, and turns it into housing exclusively, offering 433 apartments for rent. Some of these units will be in the old building, which will be redeveloped. Two other residential towers will be built from the ground up, after a retail center, which is now closed, is razed. The three towers will be 11, 17, and 26 stories tall, with 296 of the rental units in the tallest building, which will also offer 22 artists' lofts.
There will be commercial space in the development, with 20,000 square feet available on the ground floor for this purpose. A movie theater, which is currently boarded up, will be transformed into a parking garage comprising 11 stories. Companies that open offices in projects like this can order Business Cards that show their new location.
The developer's attorney, Keith Poliakoff, said the project is designed to attract younger people to the city's downtown, where they can live within walking distance of their offices, and entertainment and dining venues.Get a Free Quote for Business Cards
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