85.7 F
San Fernando
Thursday, Mar 28, 2024

NBC Universal Reveals Master Plan for Park

Officials for NBC Universal plan to turn portions of the 391-acre Universal Studios Hollywood back lot into a mixed-use complex with as many as 2,900 residential units, renovate Universal CityWalk and possibly construct another studio facility as part of an ambitious, 25-year master plan for the site released Wednesday morning. The vision plan is the most comprehensive renovation to the Universal City property since the studio opened in 1915. The most significant would be the residential element, which would be arranged around three villages with as much as 100,000 square feet of retail and dining. Plans also call for adding new attractions and 80,000 square feet of additional retail and dining to the theme. CityWalk could also include a new theater complex, retail and restaurants totaling 35,000 square feet; a 100,000-square-foot production studio; 3,000-seat enclosed entertainment venue and 500-room hotels, according to plans. On the production side, the studio also wants to add new outdoor sets, post-production facilities, sound stages, production bungalows and theaters totaling 390,000 square feet and 335,000 square feet of office space. NBC Universal, Thomas Properties Group and the MTA are also in discussions to build a new studio and office element near the existing MTA Universal Station at Lankershim and Campo de Cahuenga Way. The studio said it also wants to work with the city, county and CalTrans to improve traffic flow around the park, especially on the Hollywood Freeway and Lankershim and Barham boulevards. The proposal has been in the works for at least a decade and will require multiple approvals from city and county agencies, since the Universal City property sits in both unincorporated Los Angeles County and the city of Los Angeles. The plan could create 17,000 construction jobs and 11,000 new full- and part-time jobs upon completion and generate $21 million in new annual revenues for the city and county.

Featured Articles

Related Articles