Highland & Selma Development
In March 2011, Champion along with an institutional joint venture partner acquired 17 parcels totaling approximately 3 acres of land on the northeast corner of Highland and Selma in Hollywood, 1 block south of the Hollywood and Highland Metro stop. At the time of acquisition the property was improved with approximately 50,000 square feet of existing improvements plus excess land.
Champion’s business plan called for a re-development of the property and the transformation into a mixed-use campus consisting of 10,000 square feet of office leased to Musician’s Institute, 25,000 square feet of office/industrial leased to Panavision and approved entitlements to construct 248 market rate apartments, 13,000 square feet of community retail, and 194 public parking spaces.
In December 2015, the final parcels were sold completing Champion’s entitlement and re-development activities for this property.