Champion Real Estate Company has announced plans to subject all residential units in its proposed 6220 West Yucca development to the City of Los Angeles' rent stabilization ordinance, a move which the developer is billing as a potential model for future projects in Hollywood.
The proposed development, named for its address at 6220 W. Yucca Street, calls for the construction of a 20-story tower and a smaller four-story building over 210 apartments, a 136-room hotel, and street-fronting commercial space. Champion also proposes a variety of accessory uses on site, including a rooftop pool deck, a fitness center, a courtyard and dedicated parking.
Though similar in scale to other nearby developments, including 1755 Argyle and the new Kimpton Everly Hotel, the 6220 Yucca project has brewed controversy due to the fact that it would displace the residents of an existing 43-unit apartment complex. Tenants of the property - which is subject to the rent stabilization ordinance - have argued that there are no comparable living accommodations in Hollywood that offer similar price points to their current building.
Champion has announced an arrangement in which all current tenants on-site would be allowed to return to the new development in a comparable unit, at the same rent that they are currently paying. During the course of construction, tenants would be relocated to temporary units in Hollywood, with any difference in rent paid by Champion.
Most notably, the proposed arrangement would increase the number of rent-controlled units on the property from 43 to over 210. All units falling under the ordinance are barred from yearly rent increases beyond three percent.
Construction of 6220 Yucca, which is budgeted at $180 million, is expected to begin in 2019 and be completed by 2022.
Architecture firm Togawa Smith Martin is designing the project.
- 6220 W. Yucca Street Archive (Urbanize LA)