Tower Plan Pits New York Developer Against Old Hollywood

A proposal for Los Angeles towers as tall as 55 stories near the iconic Capitol Records building, where stars from Frank Sinatra to Taylor Swift recorded hits, is pitting a New York developer against defenders of old Hollywood.

Philip Aarons, co-founder of New York-based Millennium Partners, is proposing a $664 million, two-skyscraper complex with as many as 492 apartments and condominiums, 200 hotel rooms, a health club, offices and retail space near the intersection of Hollywood Boulevard and Vine Street, where John Lennon and Audrey Hepburn have stars on the Walk of Fame. The taller of the two towers would be almost twice the height of Hollywood’s next biggest building, and dwarf the 13-story Capitol Records property next to the site.