Developer MP Los Angeles has announced plans to construct Hollywood Center, a $1-billion mixed-use complex near the Capitol Records Building in Hollywood.

According to MP Los Angeles, the project - which was filed today with the City of Los Angeles - will feature the largest on-site affordable housing component of any market-rate development in the history of the city. The proposed development, slated for 4.5 acres of parking lots on either side of Vine Street, calls for towers of 46 and 35 stories in height, as well as mid-rise buildings that would each stand 11 stories. A full buildout of the project would create 1005 residential units - including 133 apartments for extremely-low and very-low-income seniors.

Handel Architects is designing Hollywood Center, which will feature more than 30,000 square feet of street-level retail and restaurant space, as well as a pedestrian walkway running east-to-west between Argyle and Ivar Avenues. A project description notes that the proposed design fulfills the vision of the Capitol Records Building's original architect, Louis Naidorf, who envisioned taller buildings surrounding the landmark mid-rise structure.

The design team also includes James Corner Field Operations, which is responsible for approximately one acre of publicly accessible open space across the property. An east plaza, located closest to the Capitol Records Building, will feature three distinct spaces known as the Sinatra Lounge, the Beatles Garden, and Nat King Cole Plaza. A west plaza opposite Vine Street will feature interactive tiles that light up upon contact.

The project, proposed without above-grade parking, is being designed to achieve LEED Gold and ELDP certification. The latter distinction is intended to spur faster processing times for projects budgeted at $100 million or more under California state law.

According to a project website, the Hollywood Center property does not sit atop an active earthquake fault based on cone penetrometer and soil boring tests. The issue of earthquake safety had been a major sticking point for opponents of an earlier proposal for the site - the Millennium Hollywood development.

Construction of Hollywood Center is expected to begin in 2022.

The project is the latest in a series of tall buildings proposed near the Capitol Records Building, joining a proposed mixed-use tower at 6220 Yucca Street, as well as the already-completed Argyle House and the Kimpton Everly Hotel.