Hollywood Cherokee

Los Angeles, CA

In April 2013 Champion invested with a private equity fund to purchase 50,000 square feet of land just north of Hollywood Blvd. between the Highland and Vine Metro stops.  The property was operated as a parking lot during the approvals period of the investment.  Champion obtained approvals for a 225 unit apartment project, including 25 affordable units.  While the original business plan contemplated construction of the project, the approved project was sold to a local builder in 2016 at sufficient returns to justify foregoing the construction returns and risk.