A leasing brochure produced by CBRE and Kennedy Wilson points to a redesign of CIM Group's proposed development at 5601 Santa Monica Boulevard, formerly known as Paseo Plaza.

The project, which is described as a an "Urban Power Center," dates back to 2006, when Culver City-based Continental Development Group first entitled the property.  Under the revised proposal, CIM plans to rehabilitate the interior of the historic Sears Building - built in 1928 - as retail space, while its rooftop would be converted into a 20,000-square-foot park featuring with landscaping, outdoor seating and seasonal programming.

On an adjoining parking lot, architecture firm Togawa Smith Martin has designed a series of wood-frame structures which would be stacked above a two-story concrete base.  The podium levels, combined with the adjacent Sears Building, would account for approximatley 370,000 square feet of retail and restaurant space.  The upper levels of the buildings would combine to create 375 units of multifamily residential housing.

The redesign was first pointed out by an attentive Urbanize reader earlier this week.

Although a timeline for the project has not been announced, the brochure points to a delivery date in 2019.  Several small buildings have already been cleared from the property.

Though East Hollywood lacks the glitz of the Walk of Fame, recent years have brought incremental improvements to the working class neighborhood, including new pocket parks, housing and major upgrades to the cluster of hospitals along Vermont Avenue.

Rendering of 5601 Santa Monica Boulevard (Image: LoopNet)
Rendering of 5601 Santa Monica Boulevard (Image: LoopNet)
Ground-level site plan 5601 Santa Monica Boulevard (Image: LoopNet)
5601 Santa Monica Boulevard seen from above (Image: Google Maps)

From the Web

Mixed-Use Development Proposed for Reseda Boulevard

Five-story building to rise north of Ventura Boulevard.

A one-story commercial building in Tarzana could make way for a mixed-use development, according to plans filed earlier today with the City of Los Angeles.  The project, slated for two parcels at 5431-5505 N. Reseda Boulevard would consist of a five-story building featuring 40 residential units - including five set aside for very-low-income households - above 2,540 square feet of ground-floor retail space.