Pursuits
Kilroy Plans $300 Million Mixed-Use Campus for Hollywood
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Kilroy Realty Corp., an owner of commercial real estate along the U.S. West Coast, said it plans to develop a $300 million office-and-apartment project in the Hollywood section of Los Angeles after acquiring land from the Academy of Motion Pictures Arts and Sciences.
The real estate investment trust bought the 4-acre (1.6-hectare) full city block, originally intended for the Academy Museum of Motion Pictures, for $46 million, Kilroy said in a statement today. The Los Angeles-based company is planning to seek permits to build a mixed-used campus for creative-media companies that will have about 300,000 square feet (27,900 square meters) of offices, 220 apartments and 15,000 square feet of retail space.