The long-planned Columbia Square mixed-use development planned around the historic former CBS headquarters in Hollywood will be revived by new owner Kilroy Realty Corp.
Kilroy, a Los Angeles real estate investment trust, bought Columbia Square at 6121 Sunset Blvd. for $65 million from iStar Financial. Previous owners planned an $850-million project with offices, condominiums and a hotel, but the project stalled in the recent economic downturn.
Kilroy plans a scaled-down development valued at about $235 million, Executive Vice President David Simon said. "We believe a mixed-use low-rise office campus with a residential component is the way to go. We want to make the project much more porous so people can enjoy the public spaces."
With its porthole-windowed studio doors and chrome-accented, round-cornered interior walls, Columbia Square was considered America's biggest and most technologically advanced broadcast facility when CBS opened it in 1938. During the 1940s and '50s audiences there watched live productions of radio shows featuring such stars as Jack Benny, Burns and Allen, and Orson Welles.