Plans To Redevelop North Hollywood Metro Properties
Trammell Crow, an independent subsidiary of CBRE, and Greenland USA, the American arm of Shanghai’s Greenland Group, have each been chosen by the LA Metropolitan Transportation Authority to develop 15.6 acres surrounding the North Hollywood Red and Orange Line stations.
The finalists, selected from a pool of applicants, must design plans that highlight the “the unique, eclectic character of the North Hollywood Arts District," according to Urbanize LA.
The winner will have to contribute a mandatory 1% of its budget to arts projects and preserve future transit operations at the North Hollywood Metro Station. This includes a possible conversion of the Orange Line bus service to light rail.
Metro wants both teams to include new entrances to the metro stations as part of their proposals.
The zoning for the property would allow for a hotel, retail development, housing or offices.
As part of the policy, 35% of all residential units built as part of the project will be made into affordable housing for those making 60% or less of the area median income. [ULA]
