Wednesday night, the City Council voted 13-0 in favor of the Hollywood Millennium Project, which will allow two skyscrapers, offices, a hotel and retail space to be built around the iconic Capitol Records building between Hollywood Boulevard and Yucca Street.
One issue - the project site might lie on a major earthquake fault line, but developers say the site is safe.
Opponents of the project say the new space will create a traffic nightmare, while others say it will be good for the economy.
Mayor Eric Garcetti, who has been a proponent of new development in Hollywood on the City Council, says he plans on signing the deal.
There will be more studies and more debates on the issue. Meantime, Millennium Partners hope to break ground by sometime next year.