Big changes could be coming to North Hollywood.

An enormous joint development slated for the neighborhood has received a key approval from the city's planning commission.

The project, called District NoHo, would be built on 16 acres owned by the Los Angeles County Metropolitan Transportation Authority near the North Hollywood subway station at Lankershim and Chandler boulevards. Trammell Crow Co. and High Street Residential development would replace empty space and a parking lot, Urbanize reported.

When complete, the project could have approximately 1,200 market-rate apartments, 311 affordable units, 105K SF of retail space and as much as 580K SF of office space. More than 3,000 parking spaces are also planned as part of the project. Buildings in the development would range from one to 28 stories tall, according to planning department filings.

But the project has undergone design changes since first proposed, according to a staff report to the Metro Board of Directors.

According to that report, TCC might reduce the total number of residential units to 1,481, reduce the amount of commercial space to 60K SF and decrease the office space to 450K SF, according to Urbanize.

Gensler, HKS, KFA Architecture and Relm are leading the team designing the project.

Work on the first parts of the phased development could begin as soon as 2025, with completion by 2031. Metro is considering forming an Enhanced Infrastructure Financing District for the project, which would cover the cost of the project's affordable housing and upgrades to the Metro station. EIFDs generate funds by taking a portion of property taxes as those revenues rise within a certain defined boundary.