According to a report from Bisnow, Amsterdam-based hotelier citizenM has paid $7.5 million for a property near the intersection of Hollywood Boulevard and Vine Street, with the intention of developing it into a boutique inn.

The .27-acre site, located at 1718 N. Vine Street, is currently occupied by a low-rise commercial building.

Although exact plans for the project - the company's second in the United States - are currently unclear, its location near both the iconic Capitol Records Building and the Pantages Theatre make it ideal for citizenM's "cool and styling luxury micro-units targeting Millennial travelers."

Other hotels under the citizenM brand are known for incorporating both quality design and technology, such as complimentary computer tablets which control each guest room.

The project would sit directly across the street from the equally trendy Redbury Hollywood, and a short distance from a 16-story establishment that is to be operated by Kimpton Hotels & Resorts.

Image via Google Maps
Image via Google Maps

From the Web

17 Small Lot Homes Coming to Atwater Village

The project replaces three existing houses.

Calcagnie Group, an Irvine-based real estate development firm, has unveiled renderings for a new set of small lot homes in Atwater Village.

The project, slated for a 27,000-square-foot site at 3409-3421 Fletcher Drive, calls for the construction of 17 single-family residences.  The three-story houses would come in four different floor plans, ranging between 1,826 and 2,806 square feet in size.