photo courtesy of the Hollywood Partnership

The Hollywood Entertainment District is rapidly becoming a destination for private development and new office tenants, sparking a transformation in the area. The influx of private investment is helping to revitalize the area and fuel the local economy, creating more housing options and new job opportunities, according to the Hollywood Partnership, a nonprofit that oversees the entertainment district.

Hollywood has a growing residential population of over 32,000 people, a robust workforce, nearly 300 restaurants and 225 retail and entertainment destinations. Additionally, Hollywood is one of L.A.’s most walkable neighborhoods, according to the Hollywood Partnership.

The Hollywood Entertainment District on Hollywood and Sunset Boulevards is home to many historic landmarks such as the Walk of Fame, TCL Chinese Theatre, El Capitan Theatre, Egyptian Theatre and Pantages Theatre, and famous intersections including Hollywood and Vine and Hollywood and Highland. The district is managed by the Hollywood Partnership, which provides benefits such as cleaning, safety, marketing, research, data analysis and economic development. The programs, overseen and funded by property owners, go above and beyond what the city of Los Angeles offers in the community.

According to recent data collected by THP, Hollywood has more than 100 development projects in the pipeline, including 13 hotels, 23 office developments and 70 residential communities. Of the projects, nine hotels, 10 office developments and 22 residential projects are under construction, entitled or going through the entitlement process.

W Hollywood is also in the midst of a multi-million-dollar renovation that includes its hotel lobby and bar; Universal Music Group is remodeling the Capitol Records Building; and Netflix reopened the legendary Egyptian Theatre in late 2023 following a $50 million historic renovation.

The district experienced an 8% increase in the resident population between 2020-23, while the citywide growth rate increased by just .1%, according to the Hollywood Partnership. The research determined that 83% of people employed in Hollywood have returned to in-person work environments, which is 22% higher than the national median for downtown and city centers (65%). The HED is among the top 5% of major U.S. city centers in terms of employee recovery, on par with San Antonio, Manhattan, Nashville and San Diego.

The HED’s central location has also attracted major employers to the area, such as Kim Kardashian’s SKIMS Clothing Brand, VERVE Talent and Literary Agency, Edelman Public Relations, LeBron James’ SpringHill Company and Bristol Farms. With an influx of stakeholders augmenting the 35,000 employees already working in the area, the HED is moving ahead with reinvigorating economic activity and innovation in the entertainment capital of the world.

For information on the Hollywood Partnership, visit hollywoodpartnership.com.