Other indications of Hollywood's renaissance can be seen in the $2-million project involving restoration of the historic Janes House at 6541 Hollywood Blvd. and an additional 12,000 square feet of retail and office space being developed by Janes House Square Ltd., headed by developer Parviz Ebrahimian. Leasing is under way by Coldwell Banker, and a key tenant is the Hollywood Economic Revitalization Effort.

"Hollywood's redevelopment project area with 37,000 residents, speaking 80 different languages, is bounded by La Brea Avenue to the west, Serrano Avenue to the east, Fountain Avenue and Santa Monica Boulevard to the south and Franklin Avenue and the Hollywood Freeway to the north," [Diana Webb] said.

"We expect the efforts of heavyweights like Melvin Simon Associates and other hard-nosed financial corporations willing to wage the risk, to start the ball rolling for Hollywood. There is a great deal of interest out there and the centennial celebration is helping to draw that attention to Hollywood."