A 280-unit apartment complex and shopping complex is in the works for a portion of Hollywood Boulevard near Western Avenue, reports Curbed L.A.
Commercial real estate developer Sonny Astani plans to build a complex called High Line West, inspired by New York's High Line park, with an elevated park open to the public, apartments and street-level shops.
Astani Enterprises bought the 1.9-acre site for $10.75 million, according to the article.
The site is home to a city landmark building that was known as Falcon Studios. Olympic fencer Ralph B. Faulkner taught swordplay to Errol Flynn, Basil Rathbone and Douglas Fairbanks Jr while his wife ran dancing and acting classes. It now houses a music recording studio.
Astani intends to preserve the facade of Falcon Studios and build around it.