Plans for striking $1-billion spiral-shaped Hollywood tower bursting with greenery unveiled

Plans for striking $1-billion spiral-shaped Hollywood tower bursting with greenery unveiled - Business - News

Norman Foster Unveils Plans for $1-Billion Office Tower in Los Angeles: A Vertical Garden of Modern Workspace and Community Hubs

Renowned architect Norman Foster has presented an ambitious plan for a new 22-story office tower, named The Star, in the heart of Hollywood, Los Angeles. Valued at approximately $1 billion, this innovative project is poised to transform a two-acre site on Sunset Boulevard into an inspiring and sustainable workplace of the future.

A Vertical Haven for Greenery, Collaboration, and Wellbeing

This week, Foster + Partners officially submitted the plans to city planning authorities. The digital impressions released on Wednesday illustrate an enchanting blend of greenery spilling out from terraces spiraling up the facade, outdoor decks, modern offices, and community gathering spaces.

Foster described The Star as “a true reflection of the workplace of tomorrow, fostering community, wellbeing, and collaboration.” The structure’s primary components will consist of offices, making it a “modern landmark” for entertainment firms and “Hollywood’s top content creators.”

The Star: A State-of-the-Art Workspace

Current plans outline a comprehensive offering that includes production space, an art gallery, a screening theater, a rooftop restaurant, and community gathering spaces at ground level. Encompassing 525,000 square feet of floor space, The Star is designed to be a beacon for innovation and creativity within the entertainment industry.

From Circular Design to Vertical Garden

The Star represents a significant shift from an earlier plan submitted in 2019, which was designed by Chinese firm MAD Architects. Their concept featured a circular design with a funicular railway encircling the exterior, with an estimated cost of $500 million. However, Maggie Gong Miracle, the tower’s developer, decided to abandon this design in favor of Foster + Partners’ vertical garden concept, which maintains the same height but offers a thinner profile.

According to a spokesperson for the project, this change was made with the intention of creating an asset to the community that “respects the views” enjoyed by residents of Hollywood Hills.

The Future of LA’s Real Estate Market

This announcement comes at a pivotal moment for Los Angeles’ real estate market. The city is grappling with the aftermath of the Covid-19 pandemic, Hollywood writers strikes, and the increasing prevalence of remote and hybrid working arrangements. More than a quarter (26%) of the city’s office space is currently vacant, with nearly 30% of downtown LA’s office spaces lying empty, as per the latest data from Savills.

A New Beginning for Los Angeles Real Estate

Should city officials approve the project, construction on The Star will commence by early 2026 and is expected to be completed in 2029. This innovative vertical workspace represents a step towards rejuvenating Los Angeles’ real estate landscape.