MG3 Developer Group wants to build four multi-family towers along Young Circle in downtown Hollywood.
Parc Place would be the largest project yet under the city’s new zoning code, which allows for greater height and mixed uses.
On Feb. 6, the city’s Technical Advisory Committee will review the preliminary site plan by MG3 Hollywood LLC for the 431-unit project totaling 838,391 square feet. It would be built in three phases on the 3.24-acre site at 1727 to 1745 Van Buren Street, 1700 to 1716 Harrison Street, and 1740 to 1760 South Young Circle.
MG3 Principal Herman Leonoff said he hasn’t decided whether Parc Place would be a rental or a condo. The plans could change based on feedback from city officials, he said.
MG3 Hollywood acquired the property out of foreclosure for $6.75 million in 2013 after a previous project there stalled during the recession. It currently has 35,017 square feet of commercial and office space.
The first phase of Parc Place would be the 15-story east tower of 95 units, with 83 one-bedroom units and 13 two-bedroom units.
Phase two would be the south and west towers, both rising 14 stories, with a pool/amenity deck between them and a combined 84 units, with 26 studios, 44 one-bedroom units and 14 two-bedroom units.
The third phase would be the 25-story north tower of 252 units, with 114 one-bedroom units and 138 two-bedroom units.
Parc Place would have 586 parking spaces. It was designed by Modis Architects.
In 2016, Hollywood approved a 19-story hotel/apartment tower at Young Circle. However, construction of the nearby H3 Hollywood Condominium has stalled.
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