The Los Angeles planning department on Wednesday issued a determination letter extending approvals for the planned development around the Hollywood Palladium by Crescent Heights until 2029, according to an update to the project’s planning case.
The proposed 731-project was approved by the city more than five years ago but faced litigation efforts up until close to the onset of the coronavirus pandemic. A lawsuit by AIDS Healthcare Foundation alleging Fair Housing Act violations against multiple projects, including the Palladium Residences, was thrown out in November 2019.
Crescent Heights’ plans call for 731 condos between two 30-story towers just north and west of the site’s existing concert venue. The developer will set aside about 35 units, or 5 percent of the project total, for households earning between 50 percent and 120 percent of area median income.
Plans also call for the maintenance and preservation of the Palladium. After paying $55 million to acquire the project site, Crescent Heights entered into a long-term lease agreement with LN Hollywood, a subsidiary of Palladium operator Live Nation.
In all, the development is slated to also provide about 24,000 square feet of restaurant and retail space. The two towers will include 14,000 square feet of retail and restaurant space, while the existing Palladium building will offer another 10,000 square feet of retail.
Plans also call for 33,800 square feet of publicly accessible, ground-level courts and pathways, as well as residential amenities including pool and rooftop terraces.
The towers were designed by Stanley Saitowitz of Natoma Architects.
Crescent Heights didn’t respond to a request for comment on its plans for the project.
