Parc Place, a new luxury apartment mixed-use development is set to be built on the land now occupied by the Hollywood Bread Building.
The Hollywood Commission approved an ordinance to allow an amendment to the Master Development Plan to replace the prior approval for the redevelopment of the Hollywood Bread Building by MG3 Developer Group.
The new proposed plan includes a mixed-use luxury apartment complex developed in one phase. There will be 433 total apartments, 786 parking spaces and 20,160 SF of commercial space.
Of these, 200 will be studio, 152 will be one-bedroom, and 81 will be two-bedroom. There will be commercial retail space of about 17,000 square feet on the ground floor.
The old plan would have kept the Hollywood Bread Building, but the new one does not. Many people have complained about the older building and have wanted new development there.
During the first quarter of 2020, the Bread Building will be demolished. Construction on the new building will take about 2 years.
It is hoped that that the new building will be complete by July 2022.