Those are in North Hollywood, which is technically a part of the Valley and not really associated with Hollywood in any way; that is excepting, of course, that most LA actors move to NoHo before they get a lot of work
That project is kind of goofy-looking to me. It looks like something out of Downtown BFE, if you know what I mean. I took some photos a while back of the NoHo site and posted them here:
http://www.angelenic.com/2006/08/06/noho...district-development-photo-tour/#more-47
In any event, I think that NoHo has a lot going for it in the near future. The area around Magnolia is severely lacking in routine maintenance issues like street and sidewalk repair, but if the city does some of that, I can see NoHo becoming a really nice working-class district. The area around Magnolia and Cahuenga gets really seedy, but a block or two east of that (near Porto's Burbank) it becomes really nice. Just a little more public and private investment is all it'll take. Seriously.