Crunching the Hollywood Construction Numbers

Current and planned projects amount to a total of a little over 2.5 million square feet, accounting for the largest Hollywood construction boom since the mid-1970s. Even more amazing is the fact that most of the current commercial and residential highrises are being built on spec:

Construction is being driven by office landlords hoping to lure media companies, and by apartment developers targeting young professionals willing to shell out as much as $10,000 a month in rent, noted Leron Gubler, president and chief executive officer of the Hollywood Chamber of Commerce.