The Sunset Team real estate agency based in Los Angeles and ReThink Development have a great story to tell. The duo is planning the first LEED Gold certified mixed-use project in Southern California, The Cherokee Lofts. But perhaps more interesting is the backstory: the property was formerly the MGM Recording Studios and later in 1975, Cherokee Studios.

This was where recording artists such as Michael Jackson, Rod Stewart, David Bowie, Elvis Presley, Whitney Houston and even Frank Sinatra, laid down tracks heard by generations of fans on FM radio. Over the course of its history, Cherokee produced more than 200 gold and platinum albums.

Now the property is undergoing an $11 million renovation that will turn the nostalgia into 1,000-2,000 sq. ft. lofts, starting at $800,000. The eco-real estate development will include 12 residential condominium lofts and 2,800 sq. ft. of commercial space.

The building is designed to blend sustainable green elements with eco-luxury design while preserving the legendary rock 'n' roll music history of the site. Indeed, two of the residential units will include a dedicated space for in-home recording. And the original Walnut wood paneling from Studio 1 will be used throughout the development.

Slated for completion in 2009, the green components include a green roof, LED lighting and a recycled aluminum façade.