A $1-billion modernization plan has been announced for Radford Studio Center in Studio City.
Culver City-based Hackman Capital Partners — which operates the studio in partnership with the MBS Group — has revealed its strategy to update the iconic longtime CBS Studios base where shows such as “Seinfeld,” “Mary Tyler Moore Show,” “Will & Grace,” “That ‘70s Show” and “Gilligan’s Island” were filmed.
The Radford Studio Center Plan includes 20-25 soundstages; flexible production office and support facilities located adjacent to stages; and general office space.
The Radford Studio Center Plan also calls for improved site ingress/egress through the installation of two new studio gates and streamlined internal circulation to support production operations; ample parking; a transportation demand management program and new multi-modal mobility hubs; and sustainability features, including a commitment to operate an all-electric studio.
Historic portions of the studio will be preserved and there will be an activation of the Los Angeles River Master Plan, connecting bicyclists and pedestrians to trails.
The outcome of the studio lot’s overhaul is expected to have a substantial economic impact both internally and on surrounding local businesses.
“This plan was designed with Studio City in mind—fitting the scale and character of our community. It embraces industry-leading sustainability investments and provides modern production facilities to keep productions and jobs in Los Angeles, positioning the studio for another century of preeminence,” Zach Sokoloff, senior vice president of Hackman Capital Partners, said in a statement.
Added Michael Klausman, president of Radford Studio Center, “This studio means so much to our community, not just as an important hub of content creation but as an economic engine for so many shops and restaurants on Ventura Boulevard and around Studio City. We must ensure Radford remains a robust job creator and world-class production facility for decades to come.”
Hackman bought the property from ViacomCBS for $1.85 billion in December 2021.