Hollywood Project Breaks Ground
The Dallas-based Gatehouse Capital Corp. launched its project to build the W Hollywood Hotel and Residences, which will bring a 305-room hotel, 143 condominiums and 50,000 square feet of retail space to the famed intersection of Hollywood and Vine in Hollywood.
The $600-million project is being built from the ground up in a Los Angeles redevelopment zone. However, private funds are being used. In fact, city officials said it will be the largest privately financed real estate project in California’s history.
The centerpiece of the project is the 305- room W Hollywood Hotel. Gatehouse has developed W hotels in Dallas, San Diego and California’s Silicon Valley.
The Texas company is developing the hotel with HEI Hospitality LLC of Norwalk, Conn.
The development will be located near the Red Line subway station at Hollywood Boulevard and Vine Street. Completion is scheduled for 2009. —Robert McAllister
