Hollywood and Highland
From Wikipedia, the free encyclopedia
The Hollywood & Highland Center is an entertainment, retail and hotel complex at Hollywood Boulevard and Highland Avenue in the Hollywood district in Los Angeles. The 387,000-square-foot center also includes the Grauman's Chinese Theatre and the Kodak Theatre, home to the Academy Awards. The historic site was once the home of the famed Hollywood Hotel.
Located in the heart of Hollywood, it is among the most visited tourist destinations in Los Angeles.
The complex sits just opposite of the El Capitan Theatre and offers views of the Hollywood Hills and Hollywood Sign to the north, Santa Monica Mountains to the west and downtown Los Angeles to the east. The centerpiece of the complex is a massive three-story courtyard inspired by the D.W. Griffith film 'Intolerance[1].
Tenants include 75 shops[2] and restaurants[3], a movie theater, The Highlands nightclub and a bowling alley called Lucky Strike Lanes. The portion of the center facing Hollywood Boulevard houses retail tenants such as GAP, American Eagle, Banana Republic, Build-A-Bear Workshop, Sephora, Swatch, Express, and Hollywood's second Virgin Megastore, which opened in early fall 2005 [4].
Hollywood & Highland also houses 65,000 square feet of gathering spaces including the Grand Ballroom, used for the Oscars Governors Ball. The chef Wolfgang Puck operates his regional headquarters out of the complex. The center also includes television broadcast facilities that in 2004 included the studios for the daily talk show On Air With Ryan Seacrest.
The 637-room Renaissance Hollywood Hotel is also part of the site.
The Los Angeles County Metropolitan Transportation Authority Hollywood/Highland Red Line subway stop is beneath the structure [5]. Also, Metro Local lines 163, 212, 217, and Metro Rapid 780 serve Hollywood & Highland.
[edit] Development
Developed by Trizec Properties and with funds from the Community Redevelopment Agency, Hollywood & Highland opened after three years of construction[6] in November 2001 and is part of an overall effort to revitalize Hollywood Boulevard.
The project is an example of joint development, in which a public agency leases the right to develop a parcel in exchange for improvements to the property, in this case, an enhanced portal to the Hollywood/Highland Metro Red Line station. TrizecHahn leased 1.35 acres of Los Angeles County Metropolitan Transportation Authority land for 55 years at a rate of $492,000 per year (with additional increases added every five years based on the Consumer Price Index) and four 11-year optional extensions. [7]
The center hit hard times in its first few years of operation, following the downtrend in international tourism caused by the 9/11 terrorist attacks.
Trizec sold its interest in the development for over $200 million in 2004 to CIM Group, which has developed Third Street Promenade in Santa Monica. CIM rebranded the center and shifted tenants. In 2005, the center underwent renovations to add additional features, such as escalators leading visitors from Hollywood Boulevard, directly to the third floor of the central courtyard, new signage, and new stores
[edit] Impact
The center has attracted investors to other parts of Hollywood Boulevard. The TV Guide Hollywood Center (also owned by CIM[8]) across the street reconstructed the ground floor has attracted new tenants such as American Apparel, Baja Fresh, Hooters, and Coffee Bean & Tea Leaf. Further east on Hollywood Bouelvard., several new, more upscale shops and restaurants have opened. Several blocks further east at Vine Street, two major projects have been announced, including one with a W Hotel.
The sidewalk in front of Hollywood and Highland is considered a coveted location for recent additions to the Hollywood Walk of Fame and as such is one of the few locations where the star memorials are "doubled up" rather than being placed linearly, in order for more stars to be accommodated in front of the center.
In February 2006, it was announced that the clothier H&M is opening a location just across the street from Hollywood and Highland. [9]
In February of 2005, the Academy Awards statuettes were put on display for public viewing at Hollywood and Highland before the ceremony on March 5. Visitors could have a picture taken outside with a giant prop Oscar that was to be used on the red carpet and in the exhibit could learn about the history of the Academy Awards, see the statuettes that were to be presented, and even get their picture taken holding an actual Oscar statuette. It became extremely popular, so the Academy decided to continue it. The exhibit opened on February 9, 2006 and closed February 24, when the Oscars were removed and paraded down the red carpet into the Kodak Theatre.
