"The city of Los Angelesâ€™s Community Redevelopment Agency (CRA), along with local organizations such as the Hollywood Groupâ€"urban planners and architects located in the Pantages Theater offices on Hollywood Boulevardâ€"and the Hollywood Chamber of Commerce, began focusing on revitalization strategies for the area.
...Today, after years of starts and stops (including the 1992 riots), a number of major redevelopment projects are either completed or underway. More than $2 billion of commercial and residential development within the boundaries of this historic Los Angeles neighborhood either has been completed or is on the drawing board. This mix of developments includes over 2 million square feet of space encompassing mixed-use commercial and residential, historic rehabilitation, entertainment company, and other sector expansion and relocation, as well as public improvements. There are three Red Line subway stops in Hollywood connecting the community to the San Fernando Valley and downtown L.A., and tourists continue to arrive by the millions each year."