Hollywood & Highland Is Getting A Complete Makeover, Including A New Name

Ashlyn Davis Ashlyn Davis

Hollywood & Highland Is Getting A Complete Makeover, Including A New Name

A Hong Kong real estate investment firm has announced a $100-million overhaul of the Hollywood & Highland.

The ostentatious shopping mall, around the theater where the Academy Awards are held, is going to be completely transformed. That includes a new name: Ovation Hollywood. The $100-million plan for the famed Hollywood Boulevard attraction is intended to recreate the space that both locals and tourists want to visit.

Rendering: DJM/Gaw Capital

Gaw Capital USA, a Hong Kong and Los Angeles-based real estate private equity firm, together with DJM, a San Jose and Los Angeles-based private equity real estate developer unveiled their new vision and reposition this Thursday. “The idea of Hollywood is optimism—dreams and ambitions feel more tangible when you’re here. Our reimagining of Hollywood & Highland into Ovation Hollywood is about creating a place that captures this idea,” said Stenn Parton, Chief Retail Officer at DJM.

“An ovation is a sign of appreciation for someone’s work, talent, or effort,” Parton explains. “At Ovation Hollywood we applaud the creators, doers, teachers, doctors, entertainers and small business owners that make this community sing. During this tough time for the world at large, we want to create a place of recognition, celebration and coming together in search of what it means to experience one of the most iconic places in the world.”

Rendering courtesy DJM/Gaw Capital

One of the key features of this vision is turning around half the center in office space, reflecting the unpredictable world of retail we’re currently seeing. There will be around 100,000 square feet of creative office space, 135,000 square feet of retail space, 85,000 square feet of dining, 65,000 square feet of entertainment space, and 40,000 square feet of event space. This vibrant mix of projects is expected to hedge bets and allow for a dynamism brought by a unique combination of tenants that will hopefully breathe life into underutilized spaces.

Rendering courtesy DJM/Gaw Capital

The center is located where major tourist attractions like the TCL Chinese Theatre, Hollywood Bowl, Hollywood Walk of Fame and Dolby Theatre are, with more than 25 million visitors, including tourists, business people, and A-list celebrities, pass through the property every year. However, it is currently devoid of people and they’re hoping when renovations conclude in late 2021 that this will be turned around completely.

Its new owners also hope to give the uninviting “fortress” a more permeable layout with a timeless modern look. This will be done by removing the huge white elephants (a reference to the Babylon set of D.W. Griffith’s 1916 movie “Intolerance”), along with other symbolic elements, decluttering the signage and introducing cleaner lines. There will still be some touches of color, like a mural lining the inside of the reimagined Art Deco arch that will frame the Hollywood sign.

Featured Image: DJM/Gaw Capital

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