The Los Angeles City Council on Tuesday approved a plan to build two residential high-rises, each as tall as 30 stories, where a parking lot now sits next to the Hollywood Palladium on Sunset Boulevard in Hollywood, over the objections of the nonprofit group next door.
On a 12-0 vote, the council backed a zoning change and a height district change for the Palladium Residences, a pair of towers expected to have 731 apartment units to be built where parking lots now sit near a Metro Red Line subway stop.
Representatives of Crescent Heights, the developer of the project, said the council’s decision will allow for the preservation of the Hollywood Palladium, the Streamline Moderne concert venue that opened in 1940. The two towers are planned next to the Palladium.
Backers of the project have argued for months that it would provide much-needed homes amid a regional housing crunch.
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