While the conversation, "We need more affordable housing" is one we hear over and over, Thomas Safran & Associates has been providing such for decades. Indeed, since the firm was founded in 1974, they have built over 6,000 units. Today they have 1,000 units under construction and another 1,200 in pre-construction. One of those projects is the exciting Hollywood Arts Collective on Hollywood Blvd.
This handsome $120 million project, scheduled to open in Summer 2023, will include 151 affordable units that will be offered to artists working in the industry, an 86-seat theatre, a rehearsal studio and office space for nonprofit arts organizations. The project will serve as the western region HQ for The Actor's Fund, a nonprofit that will provide social services to those in the entertainment industry. At the virtual groundbreaking for the project, Actor's Fund Western Region Executive Director Keith McNutt stated ,"Access to affordable housing is critical to the thriving creative community in Hollywood and the city of Los Angeles. Also at the event, Anette Benning, Vice Chair of The Actor's Fund said, "The Hollywood Arts Collective allows us to significantly deepen our commitment to our colleagues in the Hollywood creative community."
Safran & Associates is noted for building affordable units that look like standard market rate units as well as managing the properties that they build to high standards. The first Hollywood project they built on Fountain Ave., just east of Vine Street in the early 80s, still looks brand new as do several others that they have built in Hollywood. We are indeed fortunate to have Safran & Associates in partnership with The Actor's Fund building the new Hollywood Arts Collective. DH