Hollywood area invested in evergreen talent (5)
I believe the answer is:
flair
'talent' is the definition.
(flair is a kind of talent)
'hollywood area invested in evergreen' is the wordplay.
'hollywood area' becomes 'la'.
'invested in' indicates putting letters inside.
'evergreen' becomes 'fir' (I've seen this before).
'la' placed inside 'fir' is 'FLAIR'.
(Other definitions for flair that I've seen before include "skill" , "Stylish talent" , "Natural talent and aptitude" , "Intuitive discernment" , "Elan; panache" .)