The Hollywood Millennium proposed to be developed on 4.46 acres surrounding the Capital Records building will have the following impacts on the surrounding communities:
Create a development larger than the 950,000 sf Staples Center or the 850,000 sf LA Convention Center within 500 feet of Hollywood residential communities; 1,272,741 square feet
- Project would include 1,005 residential dwelling units (872 market-rate units and 133 senior affordable housing units) totaling approximately 1,256,974 square feet of residential floor area, approximately 30,176 square feet of commercial floor area (retail and restaurant uses),
- Erect 2-Towers – 35-feet tall west building and 46-feet tall east building and two 11-story buildings for seniors.
- The previous plan would generate 19,000 additional trips to and from the development on a daily basis; Due to the increase in height and the plan to (according to the developer) “cut 121 mostly market-rate units from the plan and build a 220-room hotel.”
- The subterranean and above ground parking structure will hold only 1,521 vehicle parking spaces, and 551 bicycle parking spaces. The project is underparked without any provision for tourist, residential guest or employee parking.
- Traffic congestion at the intersections of Cahuenga/Franklin and Argyle/Franklin cannot be mitigated effectively to handle proposed Project traffic.
The following are mitigation measures developed for the previous project back in 2013. Since that time, it has been reported that the fault-line beneath this project is indeed active. No project should be built on this site.
Possible Mitigation Measures from 2013:
“We believe the Development’s impacts on the Community can be mitigated by reducing the size, height bulk and scale of the Project. Therefore we propose the following reductions to the size of the Project to reduce the development’s impact on our Community:”
1) Limit height of the Project to 22-stories or 150 feet.
2) Limit Floor Area Ratio (FAR) to a maximum of 4.5:1 or approximately 750,000 sf.
3) Expand the parking allocation on-site in accordance with standard parking codes for similar uses in other areas of the City of Los Angeles, provide for ample visitor parking for the residential units, tourist visits and replace the 500-public parking spaces presently on-site that will be lost when the Project is developed.
4) Require the Developer to provide dedicated offsite parking for the 1,250 employees anticipated to work at the development.
5) Require the Developer to contract for a new Traffic Study to properly address traffic mitigation and account for impacted intersections not previously included AND the impact the Development’s additional traffic trips will have on 101 Freeway and on/off ramps.