Cinerama Dome Parking Structure Funded

Dome Entertainment Center Inc. has obtained $44 million in financing for construction of a 1,700-space public parking structure that will be part of the rehabilitation and expansion of Pacific Theatres’ Cinerama Dome in Hollywood. The development at Sunset Boulevard between Ivar Avenue and Vine Street will include shopping, restaurants and an additional 14-screen theater. Financing for the garage will come from bonds issued by the Community Redevelopment Agency and secured by parking revenue from the site. The deal was negotiated by Lew Feldman and other attorneys from Los Angeles-based Cox, Castle & Nicholson. The development is in the CRA’s 1,107-acre Hollywood Redevelopment Project Area, which is bounded by the Hollywood Freeway to the north, Serrano Avenue to the east, Santa Monica Boulevard and Fountain Avenue to the south and La Brea Avenue to the west.