The Sunset Strip is about to get even busier with tonight’s opening of Prism, a gallery space founded by Australian “It” boy and photographer PC Valmorbida. The debut exhibition, titled “mindthegap,” features the work of street artists Philip Frost and Barry McGee and is curated by P.M. Tenore, founder of the surf brand Rvca.

“We are trying to close the gap between blue chip art and street art and make it accessible to everyone,” explains Valmorbida, whose family owns Valcorp Fine Foods, importers of Italian coffee, olive oil and newspapers.

In addition to exhibitions, the space will incorporate a bookstore, rooftop screenings and artist lectures.

“When I first came to Los Angeles, it struck me that there was less activity here than in New York and there was some room for a place like this,” he says. “I want to attract a lot of young people. It’s not your conventional, stuffy art gallery.”

No kidding: Among those expected tonight are Tarina Tarantino, Michelle Monaghan, Honor Fraser, Duncan Ward, Nicolas Berggruen and Phillip Noyce, along with Valmorbida’s on-again, off-again girlfriend, Theodora Richards, and pals Stavros Niarchos, Dasha Zhukova and Vladimir Restoin Roitfeld, the latter of whom produced Valmorbida’s first show in February in New York.

On Saturday, Zhukova will host an after party for MOCA’s 30th anniversary gala at Prism, with an anticipated crowd including Jessica Alba, John Baldessari, Diablo Cody, Ridley Scott, Frank Gehry, Alejandro Inarritu, K.D. Lang, Angela Missoni, Carey Mulligan, Miuccia Prada, Chloë Sevigny, Marisa Tomei, Pharrell Williams and Renée Zellweger.

Prism, 8746 West Sunset Boulevard; 310.289.1301