Kilroy Realty Corporation (NYSE: KRC) unveiled plans for its 475,000-square-foot creative media mixed-used office campus near Sunset and Vine in Hollywood, California. The company acquired the site from The Academy of Motion Pictures Arts and Sciences in the fourth quarter of 2013.

Encompassing a full city block bounded by Vine Street, DeLongpre Avenue, Ivar Avenue and Homewood Avenue, the low-density office campus -- with approximately 40 percent of the four-acre site dedicated to open space -- will feature three four-story cutting edge creative office buildings and a 23-story residential tower. Pulling the energy from nearby Sunset and Vine, the project will open up at Vine and DeLongpre, with a large public gathering area that will feature public art and the majority of the development’s 20,000 square feet of street level retail.

The project is designed to accommodate an entertainment, media and technology user base and will have maximum flexibility for both small and large space requirements with a particular focus on creating a collaborative community environment, according to KRC’s Executive Vice President, David Simon, who unveiled the plans at the Hollywood Economic Development Summit.

“Successful and responsible development is the intelligent response to the cries of the market,” said Mr. Simon. “Hollywood has long suffered from the shortage of quality Class A office space, especially the highly functional and adaptive space that offers a unique sense of place and connection to the neighborhood. This lack of inventory contributed to many firms relocating to the Westside and elsewhere over the past decade. This project, and others like it, such as Columbia Square, addresses that void and will be another contributing driver to the renewed interest and vigor we are now seeing in Hollywood.”

The largest of the three office buildings, ranging in size from 76,000 to 100,000 square feet, is inspired by the historic mid-century bow trussed buildings that are in high demand by today’s creative office user. All three office structures are terraced to make a dramatic transition to the street and contribute to the human scale of the property. The buildings’ cascading design also allows KRC to offer tenants their own personal identity space, each with private entrance and outdoor meeting areas.

A 23-story residential tower anchors the northwest corner of the campus. The buildings are connected by a series of landscaped passageways that run through the center of the campus. “The overall design encourages the ‘creative collision’ of people, whether they are in their offices, on their private decks or the many other public landscaped outdoor spaces within the project,” said design architect Joey Shimoda of Shimoda Design Group. House Robertson is the executive architect. The office development will be built to meet LEED Gold certification. Construction is expected to begin the first quarter of 2016.

About Kilroy Realty Corporation. With more than 65 years’ experience owning, developing, acquiring and managing real estate assets in West Coast real estate markets, Kilroy Realty Corporation (KRC), a publicly traded real estate investment trust and member of the S&P MidCap 400 Index, is one of the region’s premier landlords. The company provides physical work environments that foster creativity and productivity, and serves a roster of dynamic, innovation-driven tenants, including technology, entertainment, digital media and health care companies.

At March 31, 2014, the company’s stabilized portfolio totaled 13.3 million square feet of office properties, all located in the coastal regions of greater Seattle, the San Francisco Bay Area, Los Angeles, Orange County and San Diego. 41% of the company’s properties were LEED certified and 55% of the eligible properties were ENERGY STAR certified. In addition, KRC has approximately 2.5 million square feet of new office development under construction with a total estimated investment of approximately $1.5 billion. More information is available at http://www.kilroyrealty.com.

Forward-Looking Statements. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on our current expectations, beliefs and assumptions, and are not guarantees of future performance. Forward-looking statements are inherently subject to uncertainties, risks, changes in circumstances, trends and factors that are difficult to predict, many of which are outside of our control. Accordingly, actual performance, results and events may vary materially from those indicated in forward-looking statements, and you should not rely on forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in forward-looking statements, including, among others, risks associated with: investment in real estate assets, which are illiquid; trends in the real estate industry; significant competition, which may decrease the occupancy and rental rates of properties; the ability to successfully complete acquisitions and dispositions on announced terms; the ability to successfully operate acquired properties; the availability of cash for distribution and debt service and exposure of risk of default under debt obligations; adverse changes to, or implementations of, applicable laws, regulations or legislation; and the ability to successfully complete development and redevelopment projects on schedule and within budgeted amounts. These factors are not exhaustive. For a discussion of additional factors that could materially adversely affect our business and financial performance, see the factors included under the caption “Risk Factors” in our annual report on Form 10-K for the year ended December 31, 2013 and our other filings with the Securities and Exchange Commission. All forward-looking statements are based on information that was available, and speak only as of the date on which they are made. We assume no obligation to update any forward-looking statement made in this press release that becomes untrue because of subsequent events, new information or otherwise, except to the extent required in connection with ongoing requirements under U.S. securities laws.