In another boost for Hollywood, the Los Angeles City Council today approved a major new apartment complex with 1,000 rental units in seven buildings that will rise on sprawling parking lots around the historic Pantages theater, the Los Angeles Times reports.

After decades of being considered seedy, the Hollywood business district has been on a growth spurt since 2001, as many new commercial and residential projects are turning the area into a more sophisticated urban locale.

The complex would be the largest residential project among more than 2,500 upscale condominium and apartment units that have been built, are under construction or planned just on blocks around the famous intersection of Hollywood Boulevard and Vine Street.

The $400-million development “continues the incredible momentum we have seen in Hollywood during the past five years,” said City Councilman Eric Garcetti, who represents the area. “It’s a picture of what the future of Hollywood will be as well.”

The project is called Blvd6200 for its Hollywood Boulevard address. The council unanimously approved a zoning change that will allow construction to begin by early next year on the long-planned project on both sides of Hollywood Boulevard at Argyle Avenue east of Vine. It would also include shops and restaurants at street level.

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