Gaw Capital USA, DJM Unveil Plans for Ovation Hollywood Mixed-Use Project in Los Angeles
LOS ANGELES — Gaw Capital USA, a Hong Kong- and Los Angeles-based real estate private equity firm, and DJM, a San Jose- and Los Angeles-based private equity real estate developer, have released plans for transforming the shopping center at Hollywood & Highland into Ovation Hollywood.
Upon completion in late 2021, Ovation Hollywood will be a mixed-use project offering 135,000 square feet of retail space, two floors of nearly 100,000 square feet of creative office space, 85,000 square feet of restaurant space, 65,000 square feet of entertainment space and 40,000 square feet of event space.
Gensler is providing design and architectural services to update the property’s physical appearance, including a simplified façade and color scheme, new concept for the tower, an easier to navigate layout, updated landscape design, new art pieces and enhanced outdoor space.
In addition to physical upgrades, the project team is focusing on refreshing the property’s tenant mix. Renovations are slated to begin later this year, with completion scheduled for late 2021.