A pair of skyscrapers planned for Hollywood are no longer expected to be built, according to a report by Urbanize.
Millennium Partners, which was working to build towers 46 and 35 stories tall near the Capitol Records building on Vine Street, formally withdrew all entitlements for the Hollywood Center project last month.
The buildings drew controversy in recent years as the California Geological Survey said the Hollywood fault runs underneath the property.
Millennium’s geologists, however, found that the fault, capable of producing a magnitude 7.0 earthquake, was not below the site.
In a statement to Urbanize, Millennium Partners founding partner Philip Aarons touted the company’s work to “save the world-renowned Capitol Records Building by getting this iconic structure declared a City of Los Angeles historic-cultural monument” and by “completing a full seismic upgrade of the structure.”
“While we have made the decision for now not to move ahead with our vision to build housing on the surrounding surface parking lots, we remain committed to working to make the Hollywood community a better place to live and work and to help Hollywood realize its full potential as the entertainment capital of not just Los Angeles, but the world,” Aarons said.