The "Access to Hollywood" plan is adding bus and bike lanes to Hollywood between Gower and La Brea. Sunset through Silverlake has bike lanes. It makes a lot of sense to bridge that gap in the network.
It seems the plan must be to connect Silver Lake/Sunset all the way to downtown Hollywood, I was seeing this driving from Vermont to Vine (it was confusing because they wiped away the old lanes but haven’t finished painting the new ones, and all the cars were acting as if there were still two lanes)