New York’s DLJ Real Estate Capital Partners and its LA subsidiary, Clarett West Development, are planting a slice of the Big Apple on Hollywood Boulevard by transforming an East Hollywood parking lot into a fresh new travel destination.
Their mixed-use development, Eastown, is a fusion of retail and residential in the heart of Hollywood, featuring 535 luxury apartments and townhomes, 75k SF of retail space and 1,300 new parking spaces.
Eastown provides an LA home for myriad New York City haunts, including fitness favorites SoulCycle and Barry’s Bootcamp, Dunkin' Donuts, and the first US foray outside New York for Sushi of Gari—a world-class omakase-style restaurant featuring unique sauces by one of New York's best sushi chefs, Master Chef Gari Sugio.
Rounding out Eastown’s offerings are SoCal local favorites Greenleaf, Pressed Juicery and Champagne Nails. The East Hollywood district has rapidly evolved into a live/work/play neighborhood, with its own Metro stop and office, hotel, recreation and shopping opportunities feeding into a vibrant, 24/7 pedestrian-friendly atmosphere.
With future development plans and new construction projects popping up in the region, DLJ is at the helm of the revitalization of a major urban center that’s been all but forgotten in the national dialogues surrounding mixed-use developments. The firm maintains high hopes the seamless integration of working, living and shopping will create a neighborhood and tourist hotspot with its own distinct flavor.
“When you create a sense of place, you can truly transform a community and turn it into a destination,” says Frank Stephan (above), a partner at DLJ and Clarett West who oversaw the development of Eastown. “You’ve seen a real renaissance begin to take shape in East Hollywood, which I expect will only continue for years to come.”
Sushi of Gari Hollywood echoes Frank’s sentiments. After scouting out several properties throughout the Los Angeles area, the restaurant found Eastown a ready, welcoming community for the New York-based brand.
Tomorrow, Eastown will welcome another New York favorite: Shake Shack. LA natives are notorious for their undying love of Cali favorite In-N-Out, but locals and tourists alike welcomed Shake Shack’s classic burgers, fries and famous secret sauce and frozen custard with long lines when the restaurant opened its first California location earlier this year in West Hollywood. The restaurant’s executives believe the Shack’s warm environment will establish it as a fun, communal gathering space for residents and visitors in East Hollywood.
“We have been humbled by how the Los Angeles community has welcomed Shake Shack when we opened our first-ever Shack in West Hollywood,” Shake Shack brand and regional marketing and communications director Laura Enoch says.
To learn more about Bisnow partner DLJ Real Estate Capital Partners, click here.
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