Hollywood Business & Community Profile by Chamber Marketing Partners, Inc.

THE COMMUNITY

200,000 RESIDENTS STRONG

A BRIGHT FUTURE

TOURISM

DEVELOPMENT BOOM MILLENNIALS & URBAN TECH

HOLLYWOOD BUSINESS & COMMUNITY PROFILE 2015 -16 EDITION • A PUBLICATION OF THE HOLLYWOOD CHAMBER OF COMMERCE

COVER PHOTO: EMERSON COLLEGE’S NEW HOLLYWOOD CAMPUS

e: 5

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CONTENTS 2 0 1 5-1 6 COM MU N I T Y & B US I N E SS P RO F I L E

7018 Hollywood Blvd., Hollywood, CA 90028 Tel: 323-469-8311 | Fax: 323-469-2805 hollywoodchamber.net

FEATURES 46 THE HOLLYWOOD CHAMBER OF COMMERCE A POSITIVE FORCE IN THE COMMUNITY

With all of the development occurring in Hollywood today, it is easy to forget how far we have come.

PROFILES 48 THE COMMUNITY

When people think of Hollywood, they usually think of the entertainment industry and not the community. However, Hollywood is a real, living, breathing community.

52 TOURISM

Each year, millions of visitors (both local and from around the world) descend on Hollywood to experience the historic movie capital of the world and its many attractions.

56 DEVELOPMENT

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With more office space under construction than any place else in Los Angeles County, the entertainment industry is moving back to its historic roots.

H O L LY W O O D C H A M B E R O F C O M M E R C E

H O L LY W O O D C H A M B E R . N E T

Hollywood Chamber of Commerce Since 1921... Promoting and enhancing the business, cultural and civic well-being of the greater Hollywood community. We advocate on behalf of our members and the Hollywood community: u Creating a Strong Economy u Representing the Interests of Businesses with Government u Promoting H0llywood u Networking & Promoting Your Business u Assisting the Community Join us as a member of the Hollywood Chamber of Commerce and support our advocacy efforts. Call (323)469-8311 or email info@hollywoodchamber.net ÂŠ2015 Hollywood Chamber of Commerce. All rights reserved. Reproduction of any portion of this publication without written permission from the Chamber is forbidden. The information in this directory is gathered and carefully compiled to ensure maximum accuracy. However, because the completeness and accuracy of the information cannot be guaranteed, the Hollywood Chamber of Commerce cannot accept responsibility for omissions or errors. Cover photo courtesy of Emerson College

THE HOLLYWOOD COMMUNITY & BUSINESS PROFILE

A FOCUS ON HOLLYWOOD’S AMAZING COMEBACK OVER THE PAST 20 YEARS

elcome to the most comprehensive statistical profile of Hollywood that has ever been completed, courtesy of the Hollywood Chamber of Commerce!

Hollywood is more than just a brand or the symbol of the entertainment industry. It is a real community, with all of the issues that are faced by any city. The information in this profile tells the story of its amazing comeback over the past 20 years. With billions of dollars of investment improving Hollywood, we believe it has a bright future – not only as the place dreams are made, but as a community in which to live and work. Because this is one of the most famous communities in the world and the entertainment heart of the City of Los Angeles, one would think that it would be easy to gather

demographic data on Hollywood. While a great deal of data exists for Los Angeles, it is unfortunately not broken down by community. Generally, demographic data is only reported for incorporated cities. Hollywood was its own city from 1903 to 1910, when it annexed to Los Angeles. Although there were many benefits of joining the city, getting accurate statistical data was not one of them. As one of the hottest real estate markets in Los Angeles, there has been an increasing demand for accurate information about Hollywood. With that in mind, the Board of Directors of the Hollywood Chamber

committed to gathering data that would be useful for both businesses and residents. Data included in this report was provided from Beacon Economics’ Economic Trends in Hollywood: 2015 Report, Nielsen 2014 Pop-Facts, the Los Angeles Tourism & Convention Board’s 2013 Hollywood Visitor Profile, and from data that the Chamber itself tracks. Of course, when you are not an actual incorporated city, it is important to define boundaries that would make sense. We determined that the most useful boundaries would be those identified and accepted by the City as the Hollywood Community Plan area. This is the area generally bounded by Mulholland Drive on the north, Hyperion on the east, Melrose on the south, and the adjacent cities of West Hollywood and Beverly Hills to the west. H H

H O L LY W O O D C H A M B E R . N E T

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A POSITIVE FORCE INTHE COMMUNITY THE HOLLYWOOD CHAMBER OF COMMERCE

BY LERON GUBLER, PRESIDENT & CEO, HOLLYWOOD CHAMBER OF COMMERCE

hat a difference 20 years makes! With all of the development occurring in Hollywood today, it is easy to forget how far we have come. Twenty years ago, after several decades of decline, many had given up on Hollywood and some feared that it would be impossible to turn the community around. The one organization which did not give up and which worked tirelessly to find a way to reinvigorate the community was the Hollywood Chamber of Commerce. The Hollywood Walk of Fame was actually

a Chamber marketing idea in the 1950s, which proved very successful, but which, in and of itself, did not revitalize Hollywood. By the early 1980s, it appeared that a more organized program was needed

and the Chamber pursued having central Hollywood declared a redevelopment district. Councilwoman Peggy Stevenson supported the idea, but was unable to devote any time to it because she was in

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2 0 1 5 -1 6 H O L LY W O O D C O M M U N I T Y & B U S I N E S S P R O F I L E

the middle of a reelection campaign. In 1983, the Chamber held a kick-off event at the Brown Derby, and in short order was able to raise $150,000 from the business community for a feasibility study required to move forward. By 1986, the City had approved the Hollywood Redevelopment Plan, a 1,107-acre district within the heart of Hollywood. Over the years, the CRA proved catalytic in getting several key projects underway. In 1972, the Chamber urged that the planned subway connect Downtown and the Valley with a route up Vermont Ave. and through Hollywood. The Chamber lobbied for years for this route before it was finally adopted. When subway construction began in 1992, the Chamber volunteered to host weekly meetings between METRO representatives and businesses that were impacted along the construction route to resolve problems. The Chamber convinced the agency to fund security patrols along Hollywood Blvd. to increase safety, and also created an Adopt-a-Block program, encouraging major corporations to contribute to the upkeep of the Boulevard. The Hollywood Beautification Team provided the labor. In 1995, a developer approached Council member Jackie Goldberg about redeveloping the struggling Galaxy Shopping Complex on Hollywood Blvd. The developer said he wanted to see evidence that the business community was supportive and would commit to clean up the area. The Councilwoman approached the Chamber and asked that it lead a drive to create a business improvement district. The effort was launched at a meeting in the Academy Room of the Roosevelt Hotel and $62,000 was raised for the needed study. The Chamber later led the difficult peti-

tion drive to secure signatures from more than 50 percent of property owners. The result was the creation of the Hollywood Entertainment District (HED) in 1996. The HED and other subsequent BIDs that have been formed have had an enormous impact on improving the community. Intent on changing perceptions, the Chamber began holding the precursor to its annual Hollywood Economic Development Summit in 1994. In the first year, the most positive thing the Chamber could tout was the new In ‘N Out Burger on Sunset Blvd. Today, by contrast, there are numerous developments to showcase. The Chamber tracks all significant development projects in Hollywood and publishes the popular annual Economic Development Update, summarizing details on what is in the pipeline. The Chamber continues to advocate on issues which it believes will improve Hollywood’s business climate. The idea for the proposed Hollywood Freeway Cap Park was incubated by the Chamber. A proposal by the City to lease out Hollywood’s public parking garages for 50 years was defeated due to Chamber opposition. Chamber members were concerned that a long-term lease would lead to exorbitant parking rates, which would kill retail businesses. The Chamber has also been a strong advocate for the updated Hollywood Community Plan, believing it only makes sense to direct future development into the core downtown area of Hollywood while preserving residential neighborhoods. For nearly 100 years, the Hollywood Chamber of Commerce has been working to promote and enhance the business, cultural and civic well-being of Hollywood. That will continue to be our mission as Hollywood faces a bright future.

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H O L LY W O O D C H A M B E R . N E T

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THE COMMUNITY PHOTO BY TUPUNGATO/DEPOSITPHOTOS

HOLLYWOOD IS 200,000 RESIDENTS STRONG AND GROWING

A VIEW DOWN HOLLYWOOD BOULEVARD

hen people think of Hollywood, they usually think of the entertainment industry and not the community. However, Hollywood is a real, living, breathing community. With over 200,000 residents, if it were its own city, Hollywood would be among the largest in Los Angeles County. With a high educational level of attainment, Hollywood residents are interested in their community and involved in civic affairs. Here is a snapshot of Hollywood - the community.

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H O L LY W O O D C H A M B E R O F C O M M E R C E

2 0 1 5 -1 6 H O L LY W O O D C O M M U N I T Y & B U S I N E S S P R O F I L E

POPULATION 2014 ESTIMATED POPULATION BY AGE Age 0 to 4

8,142

POPULATION 4.01%

2019 Projection

208,773 203,100

Age 5 to 9

8,150

4.01%

2014 Estimate

Age 10 to 14

7,098

3.49%

2010 Census

199,190

Age 15 to 17

4,742

2.33%

2000 Census

208,497

Age 18 to 20

5,518

2.72%

Growth 2014-2015

2.79%

Age 21 to 24

9,789

4.82%

Growth 2010-2014

1.96%

Age 25 to 34

45,630

22.47%

Growth 2000-2010

Age 35 to 44

37,439

18.43%

Age 45 to 54

29,486

14.52%

Age 55 to 64

22,187

10.92%

Age 65 to 74

13,414

6.60%

Age 75 to 84

7,811

3.85%

Age 85 and over

3,694

1.82%

Age 16 and over

178,154

87.72%

Age 18 and over

174,968

86.15%

Age 21 and over

169,450

83.43%

Age 65 and over

24,919

12.27%

2014 HOLLYWOOD POPULATION AGE 2014 Estimated Median Age 2014 Estimated Average Age

-4.46%

EDUCATION (FOR AGE 25 AND OVER) Less than 9th Grade

14,933

9.35%

Some High School, no diploma

10,884

6.82%

High School Graduate (or GED)

24,721

15.48%

Some College, no degree

29,094

18.22%

Associate Degree

10,741

6.73%

Bachelor’s Degree

47,944

30.03%

Master’s Degree

13,680

8.57%

Professional School Degree

5,743

3.60%

Doctorate Degree

5,743

1.20%

2014 ESTIMATED POPULATION BY SEX 38.33 40

Male

106,422

52.40%

Female

96,678

47.60%

H O L LY W O O D C H A M B E R . N E T

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HOUSEHOLDS 2014 ESTIMATED HOUSEHOLDS BY HOUSEHOLD INCOME

2014 ESTIMATED HOUSEHOLDS BY NUMBER OF VEHICLES

Less than $15,000

19,607

19.98%

No Vehicles

17,524

17.86%

$15,000 to $24,999

12,827

13.07%

$25,000 to $34,999

10,948

11.15%

1 Vehicle

48,867

49.79%

2 Vehicles

25,007

25.48%

$35,000 to $49,999

12,897

13.14%

3 Vehicles

5,131

5.23%

$50,000 to $74,999

14,888

15.17%

4 Vehicles

1,105

1.13%

$75,000 to $99,999

8,347

8.50%

5 or more Vehicles

512

0.52%

$100,000 to $124,999

5,987

6.10%

$125,000 to $149,999

3,354

3.42%

$150,000 to $199,999

3,423

3.49%

$200,000 to $249,999

1,437

1.46%

Blue Collar

11,996

10.60%

75,402

66.60%

25,821

22.81%

2014 ESTIMATED HOUSEHOLD EMPLOYED POPULATION AGE 16 AND OVER BY OCCUPATION

$250,000 to $499,999

2,915

2.97%

White Collar

$500,000 or more

1,516

1.54%

Service & Farm

HOUSEHOLDS

2014 ESTIMATED HOUSEHOLDS BY HOUSEHOLD SIZE

2019 Projection

101,808

1-person household

44,663

45.51%

2014 Estimate 2010 Census

95,196

2000 Census

94,039

98,146

2-person household

29,688

30.25%

3-person household

11,063

11.27%

4-person household

7,259

7.40%

5-person household

3,219

3.28%

Growth 2014-2019

3.73%

6-person household

1,391

1.42%

Growth 2010-2014

3.10%

7-person household

863

0.88%

Growth 2000-2010

1.23%

INFORMATION ON HOME SALES LOCATION

METRIC

Hollywood

Single-Family Home Sales

Hollywood Los Angeles County Hollywood Los Angeles County

10 I

2010

2011

2012

2013

2014

642

781

899

760

Single-Family Home Median Price ($000s)

965.4

970.5

1,051.6

1,246.8

1,333.4

Single-Family Home Median Price ($000s)

340.0

325.0

340.0

425.0

475.0

Single-Family Home Median Price Change (%)

•

-0.5

4.9

22.3

8.7

Single-Family Home Median Price Change (%)

•

-4.4

4.6

25.0

11.8

H O L LY W O O D C H A M B E R O F C O M M E R C E

2 0 1 5 -1 6 H O L LY W O O D C O M M U N I T Y & B U S I N E S S P R O F I L E

EASTOWN

RELAXED URBAN LIVING IN THE HEART OF HOLLYWOOD

A brand new community located at Hollywood and Argyle promises to redefine urban living and become the new landmark destination for locals to live, work and shop. Eastown is an exciting new residential and retail development situated next to the famed Pantages Theatre and across the street from the Metro Red Line, making it an ideal choice for those who enjoy the bustling excitement of Los Angeles and seek a home that offers a peaceful sanctuary. Presenting space-efficient studio, one- and two-bedroom apartments and townhomes, Eastown features unique townhome loft plans with soaring 20’ ceilings, ideal for a home/work studio arrangement. The townhomes offer dual access from the private residential street front and from within the community. Eastown’s design is quintessential relaxed California urban living. Interior finishes and amenity spaces showcase the work of LA-based Commune design studio, known for its conscientious selection of materials and holistic approach to design. Homes feature cork flooring in living areas, penny tile in bathrooms, stainless steel appliances, striking wood cabinets and open shelving, quartz-stone countertops, energy-efficient washers/ dryers, and oversized double pane windows. Select plans offer built-in table/ desks in kitchens, pantry and storage closets, walk-in closets, private patio or balconies, and unobstructed views of the iconic Hollywood sign. Resort amenities available right at home include an inviting pool and spa

with lounge areas, and beautifully-designed common room with cozy fireplace and patio. For Eastown’s health conscious residents, the community features a fully-equipped gym with cardio and strength-training equipment, plus a fitness studio with fitness on request video kiosk. The community is pet friendly, though restrictions apply. Professionals who choose to live and work from Eastown find the conference room and business center services are welcome amenities, in addition to complimentary Wi-Fi in common areas. The community also features attractively landscaped courtyards, controlled access entry and reserved subterranean resident parking. Electric vehicle charging stations are available as well as storage space. The retail component of Eastown provides residents with the ultimate in urban living – food service delivered to their door or poolside. Greenleaf Chop Shop and Pressed Juicery are located at the ground level of Eastown, as well as Soulcycle and Barry’s Bootcamp.

In addition to having exceptional retail and dining choices right within your community, Eastown residents benefit by concierge services, courtesy patrol, a full calendar of planned activities and events, and 24-hour emergency maintenance service. For more information, stop by Eastown, situated near the 101 Freeway at 6201 Hollywood Boulevard, Los Angeles, or visit EastownLA.com or call 866.379.4241.

H O L LY W O O D C H A M B E R . N E T

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TOURISM

PHOTO FILIPEFRAZAO/DEPOSITPHOTOS

HOLLYWOODâ&#x20AC;&#x2122;S TOURISM SECTOR CONTINUES TO GROW

TOURISTS WALK ON HOLLYWOOD WALK OF FAME. THERE ARE OVER 2,550 CELEBRITY STARS.

ollywood is the epicenter of tourism in Los Angeles. Each year, millions of visitors (both local and from around the world) descend on Hollywood to experience the historic movie capital of the world and its many attractions. With new hotels under construction and on the drawing boards, and exciting new visitor experiences being planned at nearby Universal Studios, Hollywood faces a bright future in tourism. Here is a quick profile of the people who are coming to visit.

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H O L LY W O O D C H A M B E R O F C O M M E R C E

2 0 1 5 -1 6 H O L LY W O O D C O M M U N I T Y & B U S I N E S S P R O F I L E

TOURISM HOLLYWOOD VISITOR INFORMATION Using data from two visitor profiles studies commissioned by Los Angeles Tourism and Convention Board (Los Angeles 2013 Active Leisure Visitor Profile and the 2013 Hollywood Visitor Profile), estimates were made of the number of annual visitors and total number of annual visits to Hollywood. ANNUAL VISITATION

NUMBER OF UNIQUE VISITORS

AVERAGE NUMBER OF VISITS

NUMBER OF VISITS

Hollywood hotel guests

655,000

4.1

2,685,00

Overnight visitors (excluding Hollywood hotel guests)

3,713,000

1.8

6,684,000

Day Visitors

1,767,000

1.4

2,546,000

TOTAL

6,135,000

1.9

11,915,000

VISITOR PLACE OF RESIDENCE

NUMBER OF UNIQUE VISITORS

% OF TOTAL

1,263,000

20.6%

827,000

13.5%

Other U.S.

1,747,000

28.5%

International

2,298,000

37.5%

TOTAL

6,135,000

100%

Los Angeles County Other SoCal

Hollywood “visitor” does not include those working or living in Hollywood but does include other Los Angeles County residents and those visiting Los Angeles from outside of Los Angeles County.

HOTEL OCCUPANCY AND RATES

2013

2014

CHANGE (%)

197.8

220.8

+11.6

Occupancy (%)

81.7

82.2

+0.6

Revenue per Available Room ($)

161.6

181.4

+12.2

HOLLYWOOD Average Daily Rate ($)

LOS ANGELES COUNTY Average Daily Rate ($) Occupancy (%) Revenue per Available Room ($)

168.0

180.1

+7.2

81.5

83.4

+2.3

136.9

150.2

+9.7

Source: PKF. Data year-to-date through September 2014.

HOLLYWOOD HOTEL GUESTS: AVERAGE ROOM RATE

The survey indicates the average room rate for visitors staying in a Hollywood hotel. International visitors appear to be more likely to stay in economy priced hotels/motels.

Over $250

Domestic Excluding L.A. County

International

Over $250

15.2%

8.1%

$201 to $250

15.2%

5.1%

$151 to $200

26.1%

18.2%

$101 to $150

28.3%

26.3%

Under $100

15.%

42.4%

14.2%

$201 to $250

11.3%

$151 to 200

26.4

$101 to $150

30.2%

Under $100

17.9% O%

10%

20%

30%

40%

Source: L.A. Tourism & Convention Bureau

H O L LY W O O D C H A M B E R . N E T

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TOURISM DAILY SPENDING IN HOLLYWOOD The typical visitor reported a daily spend of $156.46 while in Hollywood, which covered the cost of 2.2 persons. Therefore it is estimated that each visitor spends $71.12 daily in Hollywood. Chart at right shows mean averages of visitors questioned at each of these venues. Daily Spending by all respondents in Hollywood per Travel Party (Excluding Lodging). Restaurants & Dining

$60.33

Retail Store Purchases

$47.72

Entertainment, Sightseeing & Activities

$31.93

Hiking & Local Transportation

$15.37

Spa/Groom/ Helath Club

$0.06

Other

$1.05 $0

Mean = $156.46 per party $71.12 per visitor

$20

$40

$60

$80

Hollywood Hotels

All Hotels

Other Los Angeles Hotels

All Private Residence

All Day Tripper

Lodging

$169.23

$0.00

Restaurants & Dining

$85.07

$73.99

$67.47

$47.40

$55.05

Retail Store Purchases

$58.05

$61.54

$60.82

$40.66

$44.55

Entertainment, Sightseeing & Activities

$51.11

$40.99

$33.78

$25.63

$27.69

Gas, Parking & Local Transportation

$17.53

$17.87

$17.52

$11.34

$15.13

Spa/Groom/ Health club

$0.00

$0.28

$0.09

Other

$2.52

$1.31

$0.72

$0.95

$0.79

Mean (per travel Party)

$383.50

$195.69

$180.31

$126.27

$143.29

Mean (per person)

$174.32

$88.95

$81.96

$57.40

$65.18

Source: L.A. Tourism & Convention Board

ACTIVITIES IN HOLLYWOOD Dining in restaurants (61.2%), Sightseeing (55.9%), Shopping (54.4%) and the Hollywood Walk of Fame (52.9%) are the most popular activities of all respondents. Chart at right shows breakdown by specific area of origin. Dining in Restaurants

Los Angeles Southern County California

61.2%

General Sightseeing/ Photo Taking

55.9% 54.4%

Shopping See the Hollywood Walk of Fame

52.9% 46.6%

Visit Attraction(s)

38.5%

People-watching Visit Museum or Gallery

21.9%

Attend a TV Show Taping

18.1%

Go to bars/ nightlife activities

18.0%

Take a guided sightseeing tour

14.9%

Take pictures with/of costumed characters

11.5%

See a movie

10.6%

Attend a scheduled live performance

9.2%

Attend a festival or special event Visit a spa and/or health club

6.2% 1.3%

20%

40%

60%

80%

H O L LY W O O D C H A M B E R O F C O M M E R C E

International

Dining in Restaurants

52.9%

61.3%

67.0%

61.2%

General Sightseeing/ Photo Taking

27.4%

42.3%

60.4%

73.1%

Shopping

40.9%

49.6%

56.3%

62.3%

See the Hollywood Walk of Fame

23.6%

35.8%

59.7%

69.9%

Visit Attraction(s)

19.2%

32.1%

48.3%

65.7%

People-watching

36.5%

38.0%

41.0%

38.0%

Visit Museum or Gallery

12.5%

19.0%

22.9%

27.4%

Attend a TV Show Taping

23.1%

19.0%

27.1%

8.2%

Go to bars/ nightlife activities

13.5%

20.4%

17.7%

19.8%

Take a guided sightseeing tour

1.0%

5.8%

17.0%

24.3%

Take pictures with/of costumed characters

3.4%

9.5%

13.5%

15.0%

See a movie

13.0%

12.4%

7.6%

10.8%

Attend a scheduled live performance

10.6%

12.4%

10.40%

6.3%

Attend a festival or special event

9.6%

9.5%

4.5%

Visit a spa and/ or health club

0.5%

1.5%

1.7%

1.3%

Source: L.A. Tourism & Convention Board

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Other Domestic

2 0 1 5 -1 6 H O L LY W O O D C O M M U N I T Y & B U S I N E S S P R O F I L E

TOURISM EXPECTATIONS OF HOLLYWOOD EXPERIENCE While the majority consider their Hollywood experience to have “met their expectations” (68.1%), over one fifth of visitors reports that their experience actually “exceeded their expectations” (21.7%)

Exceeded expectation

PHOTO KAYTE DEIOMA / CRA/LA HOLLYWOOD PHOTO BANK

VISITOR PLACE OF RESIDENCE In total, nearly 80 percent of visitors to Hollywood live outside Los Angeles County, including 37.5 percent who are international visitors. Among non-local visitors, the percent of International visitors is almost half (47%) clearly showing that Hollywood is a key factor in attracting International visitors to Los Angeles.

21.7%

RESIDENCE Met expectations

Question: Which of the following best describes where you live? Outside the United States

37.5%

Less than expected

10.2% 0%

Elsewhere in the United States

28.5%

Los Angeles County, outside of Hollywood Area

20% 40% 60% 80%

Source: L.A. Tourism & Convention Board

20.6%

Southern California, outside of Los Angeles County 0%

13.5% 10% 20% 30% 40%

Los Angeles County

Southern California

Other Domestic

International

Exceeded Expectations

18.3%

22.1%

26.4%

20.0%

Met Expectations

75.0%

71.3%

64.1%

66.1%

6.6%

9.5%

13.9%

Less Than Expected

Source: L.A. Tourism & Convention Board

Outside the United States

Serving musicians, entertainment guilds as well as the Hollywood community

17.0% 20% 40% 60%

TOTAL TIME SPENT IN HOLLYWOOD AREA Putting the arrival and expected departure data together, a clear majority of Hollywood visitors (excluding hotel guests) expected to spend more than 4 hours in the area (65.2%). The average visitor expected to spend 5.2 hours in Hollywood. Time Spent in Hollywood (excluding Hollywood Hotel Guests)

Over 4 hours

65.2%

2 to 4 hours

34.9% 7.5%

Engineering, Inc.

www.MusiciansCU.org

35.8%

Southern California, outside of Los Angeles County

L A S

6.7%

47.1%

Elsewhere in the United States

Less than 2 hours

68.1%

Mean = 5.2

20% 40% Source: L.A. Tourism0% & Convention Board 60% 80%

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TRANSIT ORIENTED DEVELOPMENTS

L A S Engineering, Inc. 949-364-1641 www.lasengineering.com

28592 La Cumbre • Laguna Niguel, CA 92677 FEASIBILITY STUDIES ■ ENTITLEMENTS ■ CIVIL ENGINEERING PLANS ■ PRESERVATION PLANS

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DEVELOPMENT HOLLYWOODâ&#x20AC;&#x2122;S BOOM IS ATTRACTING MANY TO THE TECH OPPORTUNITIES AND URBAN LIFESTYLE

ollywood has become one of the hottest development markets in Southern California. With more office space under construction than any place else in Los Angeles County, the entertainment industry is moving back to its historic roots. Thousands of new residential units are attracting young Millennials and tech savvy residents who want to live in an urban setting close to work and mass transit. Take a look at the business profile of Hollywood.

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DEVELOPMENT 39

36 Q2-11

Q2-10

Q2-11

Q2-12

Q2-13

Q2-14

Los Angeles County Hollywood Region Demographic information in this section was provided by Beacon Economics.

Q2-12

Q2-13

Los Angeles County

Q2-14

20.0

15.0

10.0

5.0

Hollywood Region (%)

Los Angeles County (%)

40 Hollywood Region (Annual $ per SF.)

Los Angeles County (Annual $ per SF.)

Q2-10

Q2-09

OFFICE VACANCY Q1-09 TO Q3-14

OFFICE RENT Q1-09 TO Q3-14

Q2-09

Hollywood Re

Los Angeles C

5.0

Q1-09

Hollywood Region

Q1-10

Q1-11

Q1-12

Los Angeles County

Q1-13

Q1-14

Hollywood Region

20.0

15.0

Hollywood Region (%)

Los Angeles County (%)

HOLLYWOOD MULTI-FAMILY RESIDENTIAL PROJECTS. UNITS COMPLETED 2003-2015

Currently (2015) there are 5,000 units in the pipeline, 1,316 under construction. *Number of units under construction in 2015. This information provided by Hollywood Chamber of Commerce

Source: California Employment Development Department JOBS GAINED/LOST 500 1,000 1,000 1,500 1,5002,000 2,0002,500 2,500 JOBS GAINED/LOST 00 500

RETAIL 8.08.0VACANCY RATES Q1-09 TO Q3-14

8.08.0 8.0 8.0

Greater Hollywood Region (%) (%) Greater Hollywood Region Greater Hollywood Region (%) Greater Hollywood Region (%)

8.0 8.0

6.06.0 6.0 6.0

Los Angeles County (%) (%) Los Angeles County Los Angeles County (%) Los Angeles County (%)

6.06.0

6.0 6.0

4.04.0

4.0 4.0

2.02.0

2.0 2.0

0.00.0

Q1-09 Q1-09Q1-10 Q1-10 Q1-11 Q1-11 Q1-12 Q1-12 Q1-13 Q1-13 Q1-14 Q1-14 0.0 0.0

0.0 0.0

Los Los Angeles Angeles County Q1-09 Q1-10 Q1-10 Q1-11County Q1-12 Q1-09 Q1-11 Q1-12

Hollywood Hollywood Region Region Q1-13 Q1-14 Q1-13 Q1-14

Los Angeles County Los Angeles County

H O L LY W O O D C H A M B E R O F C O M M E R C E

100 100 75 75 7575 50 50

50 50 25 25 2525 0 0 00

2006 2006 2007 2007 2008 2008 2009 2009 2010 2010 20112011 20122012 20132013 20142014

20062007 20072008 2008 20092010 2010 2011 2011 20122013 20132014 2014 2006 2009 2012 Residential Residential Non-Residential Non-Residential

Residential Non-Residential Source: Los Angeles City Department of Building and Safety. Note: Fiscal Year 2005-06 to FY2013-14 Residential Non-Residential

RETAIL RENT Q1-09 TO Q3-14 32 32 3232

4242

31 31

41 41 4141

30 30

40 40

3030

40 40

29 29

39 39

2929

3939

28 28

38 38 Q2-09 Q2-09 Q2-10 Q2-10 Q2-11 Q2-11 Q2-12 Q2-12 Q2-13 Q2-13 Q2-14 Q2-14 28 28 3838 Los Los Angeles Angeles County County Hollywood Hollywood Region Region Q2-09 Q2-10 Q2-10 Q2-11 Q2-12 Q2-13 Q2-13 Q2-14 Q2-09 Q2-11 Q2-12 Q2-14 Los Angeles County Los Angeles County

Source: REIS

42 42

3131

Hollywood Region Hollywood Region

Source: REIS

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125125 125 125 100100

Hollywood Region (Annual $ per$ SF.) Hollywood Region (Annual per SF.) Hollywood Region (Annual $ per SF.) Hollywood Region (Annual $ per SF.)

2,474 2,474 Leisure Leisure andand Hospitality Hospitality 1,9185.0 1,918 Health Health Care Care 5.0 2,474 Leisure and Hospitality 2,474 Leisure and Hospitality 997 997 Prof, Prof, Sci, Sci, Tech, Tech, and and Mgmt Mgmt 1,918 Health Care Q1-09 Health Q1-10 Q1-11 Q1-12 Q1-13 Q1-14 1,918 Care 662 662 Information Information 997 Prof, Sci, Tech, and Mgmt 997 Prof, Sci, Tech, and Mgmt Los Angeles Hollywood Region 410 410 Wholesale Wholesale Trade Trade County 662 Information 662 Information 384 384 Admin Admin Support Support 410 Wholesale Trade 410 Wholesale Trade 381 381 Other Other Services Services 384 384 Admin Support Admin Support 332 Retail Retail Trade Trade 332 381 Other Services 381 Other Services 216 Education Education 332 Retail Trade 216 332 Retail Trade 141 Transport/Warehouse Transport/Warehouse 216 Education 141 216 Education 70 70 NR/Construction NR/Construction Transport/Warehouse 141141 Transport/Warehouse 32 Non-Durable Non-Durable Goods Goods32 NR/Construction 7070 NR/Construction 26 26 Fin.Fin. Svcs. Svcs. and and Real Real Estate Estate 32 Non-Durable Goods 32 Non-Durable Goods Fin. Svcs. and Real Estate 2626 Fin. Svcs. and Real Estate JOBS JOBS GAINED/LOST GAINED/LOST 0 0 5005001,000 1,0001,500 1,500 2,000 2,000 2,500 2,500

BUILDING PERMIT VALUES IN HOLLYWOOD

$ Million $ Million $ Million $ Million

10.0

Los Angeles County (Annual $ per$ SF.) Los Angeles County (Annual per SF.) Los Angeles County (Annual $ per SF.) Los Angeles County (Annual $ per SF.)

10.0 EMPLOYMENT CHANGE, HOLLYWOOD, 2010-2013

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Hollywood Region Hollywood Region

DEVELOPMENT PRIVATE EMPLOYMENT IN HOLLYWOOD, BY INDUSTRY 2013 Hollywood Employment (000s)

Growth 2012-13 Hollywood (%)

Growth 2012-13 County (%)

Location Quotient (County = 1)*

Leisure and Hospitality

16.4

+2.0

+5.4

1.9

Health Care

13.7

+9.2

+37.7

1.2

Information

10.9

+2.2

+0.9

2.8

Retail Trade

7.4

-1.7

+1.5

0.9

Professional, Science, Tech, and Management

6.0

+1.0

+4.5

0.9

Education

3.2

-1.3

+2.6

1.5

Admin Support

2.7

-8.2

+4.8

0.5

Financial Services and Real Estate

2.2

+6.1

+0.2

0.5

Wholesale Trade

1.6

+5.8

+2.8

0.4

Transport/Warehouse

0.9

+3.7

+1.5

0.3

NR/Construction

0.7

+2.8

+6.0

0.3

Durable Goods

0.6

-7.3

+0.1

0.1

Total Private

71.4

+2.4

+3.0

â&#x20AC;&#x201D;

INDUSTRY

Source: California Employment Development Department. * A higher Location Quotient indicates that employment in an industry is more concentrated in Hollywood than in Los Angeles County.

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DEVELOPMENT PRIVATE SUBSECTORS IN HOLLYWOOD, 2013

PRIVATE SECTOR ANNUAL WAGES BY INDUSTRY, 2013

Employment (000s)

Employment Annual Growth (%)

Average Wage ($000s)

Food and Drinking Places

12.2

+0.9

19.8

Motion Picture and Sound

8.0

+2.6

Hospitals

7.0

Professional and Technical Services

5.4

Educational Services

3.2

-1.3

Nursing Facilities

3.1

Administrative Service

2.7

Membership Association and Organization

2.0

+6.9

42.0

Ambulatory Services

1.9

+2.8

47.8

SUBSECTOR

Performing Arts & Spectator Sports

1.8

Growth Growth Hollywood Average 2012-13 2012-13 vs. Wage Hollywood County County ($000s) (%) (%) (%)*

Information

127.8

-0.3

-2.2

129.3

126.2

Prof, Sci, Tech & Mgmt.

91.9

+2.0

-2.3

102.6

+11.6

73.3

Wholesale Trade

65.2

-3.4

-0.3

111.8

+1.5

94.4

Fin. Svcs. & Real Estate

59.1

-4.8

-0.3

67.7

Health Care

54.6

+3.6

-21.5

134.4

44.5

Education

44.5

-3.2

+1.0

87.7

-0.2

32.4

NR/Construction

40.2

+5.9

+0.4

68.3

-8.2

29.6

Durable Goods

35.9

+6.8

+0.3

59.9

Transport/ Warehouse

34.6

+3.0

+2.8

59.6

Retail Trade

31.9

+1.2

-0.2

99.6

Admin Support

29.6

-0.3

-1.4

81.1

Leisure & Hospitality

29.2

-3.6

-3.0

87.0

TOTAL PRIVATE

57.8

+0.3

-1.3

107.6

+6.9

Source: California Employment Development Department.

INDUSTRY

91.8

Source: California Employment Development Department. *This figure measures the sector’s average annual wage in Hollywood relative to the sector’s average annual wage in Los Angeles County

Television Center ON SITE LEASING OFFICE-EXPERIENCED PROFESSIONAL PROPERTY MANAGEMENT ANA I RAMIREZ

PROPERTY MANAGER/ASSISTANT VICE PRESIDENT

Serving Hollywood since 1978 6311 Romaine St., Los Angeles www.televisioncenter.tv

323-464-6638

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THE CAMDEN A PA RT M E N T H O M E S

OPENING 2016 TheCamdenLife.com

luxury long-stay lodging in the heart of beverly hills

AKA beverly hills crescent at wilshire

Available at weekly and monthly rates, AKA offers furnished residences with spacious living rooms, full kitchens and hotel amenities, including resident cinema, high tech fitness center, and tranquil terrace lounge. Private entry bi-level town homes, penthouse residences and terrace suites feature sweeping views of the Hollywood Hills. Steps from Rodeo Drive, with in-suite dining by Wolfgang Puck’s legendary Spago. AKA is delighted to work with brokers for clients who are renovating or in transition. sTAyAKA.COM

310 597 4810

LeFRAK AND KENNEDY WILSON

INVESTED IN HOLLYWOOD

LeFrak and Kennedy Wilson have been close partners for many years, including in Hollywood. Together, in 2007, they purchased 7060 Hollywood Blvd. and fully renovated the property creating a beautiful new Class A office building. 7060 Hollywood won the BOMA Greater Los Angeles 2013 Outstanding Building of the year (TOBY) Award for commercial properties of 100,000 – 249,999 sq ft. The TOBY Awards Program has been identified as the most prestigious of its kind in the commercial real estate industry. This exemplifies the commitment this partnership has to Hollywood.

LeFrak is a preeminent, family-owned property company committed to community development and long-term ownership. These principles, consistently applied, have strengthened and deepened the expertise that supports the company’s real estate leadership for over a century. LeFrak entered the Los Angeles market beginning in 2007 and has invested in and continues to own a dozen substantial commercial and residential properties located in the Los Angeles area, including Koreatown, Hollywood, Beverly Hills and Malibu.

Founded in 1977, Kennedy Wilson is a vertically integrated global real estate investment and services company headquartered in Beverly Hills, CA, with 25 offices in the U.S., U.K., Ireland, Spain, Jersey and Japan. The company, on its own or with partners, invests opportunistically in a variety of real estate related investments, including commercial, multifamily, loan purchases and originations, residential, and hotels. Kennedy Wilson offers a comprehensive array of real estate services including investment management, property services, auction, conventional sales, brokerage and research.

To learn more about LeFrak, please visit lefrak.com.

For further information, please visit www.kennedywilson.com.

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HOLLYWOOD TOP EMPLOYERS COMPANY Kaiser Permanente LA Medical Ctr. * Universal Studios, Inc. * Paramount Pictures Children’s Hospital of Los Angeles

ADDRESS

BUSINESS TYPE

# OF EMPLOYEES

4747 Sunset Blvd. Hollywood, CA 90027

Hospital

6,000

100 Universal City Plaza Universal City, CA 91608

Motion Picture Studio

5,000

5555 Melrose Ave. Hollywood, CA 90027

Motion Picture Studio

5,000

4650 Sunset Blvd. Hollywood, CA 90027

Hospital

4,994

* Sunset Gower/Sunset Bronson Studio

1430 N. Gower, Box 21, Hollywood, CA 90028

Motion Picture & TV Studio

2,500

Hollywood Presbyterian Medical Center

1300 N. Vermont Ave. Hollywood, CA 90027

Hospital

1,500

Los Angeles City College

855 N. Vermont Ave. Los Angeles, CA 90029

Community College

1,383

j2 Global, Inc.

6922 Hollywood Blvd. Hollywood, CA 90028

Internet Business

860

* The Prospect Studios

4151 Prospect Ave. Los Angeles, CA 90027

Television Studios

850

CBS Television City

7800 Beverly Blvd. Los Angeles, CA 90036

Television & Radio

700

6333 W. 3rd Street Hollywood, CA 90036

Retail

600

Trailer Park

6922 Hollywood Blvd. Hollywood, CA 90028

Advertising Agency

560

Roosevelt Hotel

7000 Hollywood Blvd. Hollywood, CA 90028

Hotel

413

6255 Sunset Blvd. 19th Floor, Hollywood, CA 90028

Entertainment

400

W Hotel

6250 Hollywood Blvd. Hollywood, CA 90028

Hotel

400

Loews Hollywood Hotel

1755 N. Highland Ave. Hollywood, CA 90028

Hotel

385

Live Nation

7060 Hollywood Blvd. Hollywood, CA 90028

Music Event Production

380

Technicolor

6040 Sunset Blvd. Hollywood, CA 90028

Film & TV Production

375

1750 Vine St. Hollywood, CA 90028

Record Company

320

KTLA

5800 Sunset Blvd. Hollywood, CA 90028

Television

250

Home Depot

5600 Sunset Blvd. Hollywood, CA 90028

Retail

240

Amoeba Music

6400 Sunset Blvd. Los Angeles, CA 90028

Record, Tapes, CDs

222

Hollywood Community Hospital

6245 DeLongre Ave. Hollywood, CA 90028

Hospital

165

The Original Farmers Market

Nielson Entertainment

Capitol Records

* Includes employees, clients, and tenants housed on-site and seasonal variations in employment.

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