We are leveraging our development and studio operations expertise to further expand Sunset Studios facilities here in Los Angeles, where demand from leading content creators for top-notch, fully integrated sound stages and support space continues to significantly outpace supply, Coleman said in a statement. The project includes seven sound stages totaling 136,000 s.f, four production office buildings totaling 91,000 s.f. With about 240,000 square feet across more than 10 acres, the new . Variety is a part of Penske Media Corporation. The Los Angeles-based commercial landlord reported $240.5 million in revenue in the fourth quarter of last year, a slight increase compared to the previous quarter. Hollywood's Sunset Studios, which produced La La Land, Zoolander and the first in the X-Men franchise, has become the latest US movie production house to adopt the leafy . Construction is expected to be completed in the third quarter of 2023 at a cost of $170-$190 million. Storied movie studio Warner Bros. Ranch in Burbank will be redeveloped with 16 new soundstages as demand for facilities to make movies and television . Roger Vincent. Sunset Glenoaks Studios, which will represent a total investment of approximately $170-190 million, is expected to be completed in the third quarter of 2023. RBC is one of many institutional lenders cashing in on studio development. Application. One of "Sunset's best cabin getaways". In order to expand their studio platform joint venture, Hudson Pacific Properties and Blackstone (BX +0.3%) announced to develop Sunset Glenoaks Studios, a fully entitled, state-of-the-art . The Sunset Studios brand already includes three existing studios in Hollywood Sunset Gower Studios, Sunset Bronson Studios and Sunset Las Palmas Studios also jointly owned by Hudson Pacific and funds managed by Blackstone in a deal announced a year ago. 1 Available. Sen. Bill Cassidy, R-La., on Sen. Kyrsten Sinema speaking out against President Biden's push to change the filibuster. Sunset Glenoaks Studios will have seven soundstages for the production of movies and television shows when it opens in late 2023, developers Hudson Pacific Properties Inc. and Blackstone said. Plans are for 120,000 square feet of stage-adjacent support space as well as offices with hillside views, a large mill (area where productions can construct sets), 450 parking stalls and generous truck loading. The project is estimated to cost between $180 million and $200 million. Burbank Village Apartments 12244 Burbank Blvd is an apartment building with 2 floorplans, and studio-1 bedroom units available. Last week, Gov. Variety reports that the project will be among the first developments to benefit from a $150-million state tax credit intended to promote the construction of new production facilities. The roughly $190-million project will include seven sound stages, each of which would range from 15,000 to 21,000 square feet in size and include 35- and 40-foot ceiling heights. But Sunset Glenoaks already has administrative approval, and the neighbors legal challenge has been defeated. To view the purposes they believe they have legitimate interest for, or to object to this data processing use the vendor list link below. Gregory Cornfield can be reached at gcornfield@commercialobserver.com. At that time, Alton Butler, the CEO of Line 204, said that he expected to break ground that September, and that the project would be operational by late 2019. Dean Boerner is a California-based writer previously with Bisnow and the San Francisco Business Times. The Registry-November 2, 2021 0. It will be the fourth such property managed by the two firms, and bring their total to 42 sound stages. Tag: Sunset Glenoaks Studios. The $150 million will be doled out by the California Film Commission on a first-come, first-served basis. RPR/Snyder Langston's latest project, Sunset Glenoaks Studios. We are leveraging our development and studio operations expertise to further expand Sunset Studios facilities here in Los Angeles, where demand from leading content creators for top-notch, fully integrated sound stages and support space continues to significantly outpace supply.. That sets up a race for productions to lease out space in newly built soundstages before the credit funding is exhausted. 2021. Those three have 35 sound stages (1.2 million square feet). Construction of the roughly 240,000-square-foot studio complex is expected to begin this year and wrap up by the third quarter of 2023. Local soundstages have remained leased during the pandemic; location shoots, which had dwindled to a trickle during the worst months of the pandemic, are mounting a comeback. Hudson, in partnership with Blackstone, has acquired Sunset Gower, Sunset Bronson, Sunset Las Palmas and is developing Sunset Glenoaks, becoming become one of the largest independent owner-operators of studio space. Sunset Glenoaks will comprise approximately 240,000 square feet on over 10 acres, making it the first large-scale, purpose-built studio development in Los Angeles in decades. Sunset / Alvarado: 4 min a pie: VER: Glendale / Reservoir: 4 min a pie: VER: Estaciones de Metro cercanas a La Seismic Construction en Echo Park, La. The lot, in the meantime, sat fallow. 1) Includes under construction 241,000 square-foot Sunset Glenoaks Studios in the San Fernando Valley and planned 1,167,000foot Sunset Waltham Cross Studios in North London and excludes 1,120,000 square feet of nonrevenue generating trailer and equipment - storage space. All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. Greystone sells Lantana apartments to real estate mogul for $10M, Sticker shock: Ranking South Floridas priciest residential rentals, High Street, Daiwa bring resi to River Oaks, St. Charles revamp of torched resort takes center stage in local City Hall races, LIV plans massive resi project in Fort Worth, KBS deal to sell Union Bank Plaza to Joel Schreiber delayed for 9th time. Amid a production rise fueled by Hollywood's pivot to streaming, the need to lock in filming space is becoming more critical and a soundstage boom is overtaking the Southland, with . (W)e do not believe that the project being entitled prior to the legislations signing would preclude Sunset Glenoaks tenants from benefiting from these new tax credits, said Jeff Stotland, senior vice president of global studios at Hudson Pacific, in a written response. The company also said on its website that construction began in 2020. fridge, range, hood and Brand new dishwasher. Its expected to be complete by the third quarter of 2023. if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[580,400],'whatnowlosangeles_com-medrectangle-3','ezslot_0',133,'0','0'])};__ez_fad_position('div-gpt-ad-whatnowlosangeles_com-medrectangle-3-0'); The total development cost for Sunset Glenoaks Studios is expected to be between $170 million and $190 million, according to the recent announcement. "Unique to Glen Oaks Big Sur, you have access to acres of prime hiking trails, the Big Sur River, and redwood groves". Actual product and specifications may vary in dimension or detail. Plans also call for 120,000 square feet of accompanying stage support space, offices with views of the surrounding hillside, a mill, and parking for up to 450 vehicles. Shadow Hills. Hudson said the development will offer content creators a unique production environment as the first large-scale facility built in the city in more than 20 years. Soundstages are one of the hottest categories in commercial real estate as entertainment production keeps rising. Sunset Glenoaks Studios will be top notch, featuring seven film- and TV-ready sound stages that will range from 15,000 to 21,000 square feet, nearly 120,000 square feet of highly efficient, stage . Some of our partners may process your data as a part of their legitimate business interest without asking for consent. One of the "World's most romantic hotels". Chad Johnson, Former 'Bachelorette' Contestant, Wins Round In . A rendering of a soundstage at the planned Sunset Glenoaks Studios in Sun Valley. The Sunset Gower Studios lot, the home of such Columbia classics as Frank Capra's It Happened One Night in 1934, Mr. Smith Goes to Washington in 1939, the Three Stooges shorts, Funny Girl and The Caine Mutiny, has continued to host productions of top new films such as The Good Shepherd and The Good German. It would be the first such project built in Los Angeles in decades, and it would help stop shows from fleeing to other states. A large list of successful films were produced during this time, and in 1982, Columbia Pictures Industries, Inc. was sold to The Coca-Cola Company for $750 million.[5]. Variety and the Flying V logos are trademarks of Variety Media, LLC. Seven years ago, a developer floated a plan to build a new TV and film production facility on the site of an old gravel pit in the San Fernando Valley. Hardwood floors throughout refinished. An example of data being processed may be a unique identifier stored in a cookie. Hudson Pacific Properties and Blackstone are planning a ground-up studio facility in Sun Valley. We are excited to share that Quixote has been acquired by Hudson Pacific Properties. Sunset Glenoaks Studio Project Delayed Long Enough to Get Tax Credit - Variety Earlier this year, Hudson Pacific and Blackstone unveiled plans to develop Sunset Glenoaks Studios to take advantage of the growing market for soundstages. Not all features are available in every apartment. The neighbors didnt like the plan, citing traffic and other objections, and the project got bogged down in years of costly litigation. 1. The studios are located at 5800 Sunset Boulevard, 1438 N Gower Street, and 1040 N Las Palmas Avenue, respectively. Sen. Cassidy applauds Sinema's speech, blasts Biden for dividing Americans. . On May 19, 2022, the Company purchased a parcel of land at Sunset Gower Studios that was previously encumbered by a ground lease for a total purchase price of $22.0 million, before certain credits . New York-based. Construction started in fourth-quarter 2021 and will add 241,000 square feet and seven sound stages to Hudson and Blackstones joint. The Los Angeles area already ranks as the worlds leader in soundstage capacity with more than 5.2 million square feet of certified space, FilmLA data show. COPYRIGHT 2020 KIMBERLINA WHETTAM & ASSOCIATES. On Thursday, the new owners of the project a partnership of Hudson Pacific Properties and Blackstone announced they intend to invest $170-190 million to build the facility over the next two years. (15) We own 50% of the ownership interest in the unconsolidated joint venture that owns Sunset Glenoaks Studios. Updated kitchen cabinets, ss appliances, granite countertops, built in micro wave, some new light fixtures. in the Sun Valley neighborhood near Burbank. Without the guidance of the Cohn Brothers, Columbia Pictures Corporation was not the profit-making company it once was. Hudson Pacific Properties reported in its fourth-quarter results last week that it secured a $94 million construction loan for a portion of the Sunset Glenoaks studio development with Blackstone. The Technicolor building opened its doors in 2008. The Sunset Studios branding follows the branding of three other large production facilities they own Sunset Gower Studios, Sunset Bronson Studios, and Sunset Las Palmas. Great opportunity to move into this 5 bedroom 3 full bath lakeview pool home in prestigious Lexington estates. Between 1970 and 1972, Columbia moved from the 14-acre (57,000m2) lot, and joined forces with Warner Bros. in Burbank, then subsequently later moved to the Sony Pictures Studios (formally MGM and Lorimar Studio) in Culver City. Hudson Pacific and Blackstone are adding a fourth project to their Sunset Studios family, unveiling plans to build Sunset Glenoaks Studios amid a booming . Established in 1912, it continues today as Hollywood's largest independent studio[1] and an active facility for television and film production on its twelve soundstages. The Sunset Glenoaks studio has been delayed for seven years, and now stands to be first line for a new tax credit. He received his bachelor's degree in economics and business from Saint Mary's College of California, where he also served as the editor-in-chief of The Collegian, the school's campus newspaper. Well maintained complex. All rights reserved. Sunset Studios. Last week, Gov. This year has also seen the first large-scale new construction studio project to break ground in Los Angeles in decades with Hudson Pacific Properties and Blackstone planning to build Sunset . All new a 2 bedroom and 1/1/2 bath. NBCUniversal plans for a major development at its famed Universal Studios lot, adding more soundstages as media companies race to satisfy the content boom. Kaiser Permanente plans to move 1,200 administrative jobs from . Los Angeles, A $150,000 executive protection dog? In Sun Valley, partners Hudson Pacific Properties Inc. and Blackstone secured a $94 million loan to build Sunset Glenoaks Studio, which will see seven soundstages cover 241,000 square feet . To be called Sunset Glenoaks Studios, the fully equipped, state-of-the-art studio facility will be the first large-scale, purpose-built studio in the Los Angeles area in more than 20 years, the companies said. 3+ 3+ Beds. The Los Angeles area already ranks as the worlds leader in soundstage capacity with more than 5.2 million square feet of certified space, FilmLA data show. Helped in addressing FLS comments, produced construction details, revised drawings, conducted Code analysis, exiting analysis, and plumbing The project will cost as much as $190 million and work is set to begin later this year. Rich L.A. homeowners are snapping them up, Stocks jump as Wall Street cruises to best day since January, Car debt piles up as more Americans owe thousands more than vehicles are worth, Chicken-flavored ice cream? Rather, Sunset Glenoaks Studios will go up in Sun Valley neighborhood north of North Hollywood in the San Fernando Valley. First large-scale, purpose-built studio development in Los Angeles in over 20 years State-of-the-art 240,000-square-foot project to include 7 stages, production office and support space Property to. All our breaking news, straight to your inbox. Major renovations from flooring to new kitchen, and bathrooms . Last week, Hudson Pacific Properties and Blackstone announced plans for Sunset Glenoaks Studios, a project which would rise from a currently vacant 10-acre site at 11100-11220 W. Peoria Street. The project to expand production at Television City comes as shortages keep the regions existing soundstages booked year-round. Among the modern touches will be a power grid designed for LED lighting and high-speed fiber connectivity that will enable productions to send high-resolution video from cameras to on-site editing suites and offices. It would be called Echelon Studios and would replace a long-closed Sears store and parking lot on Santa Monica Boulevard west of the 101 Freeway. The pair will develop Sunset Glenoaks Studios, which forms part of three existing Sunset studios in Hollywood also jointly owned by Hudson Pacific and funds managed by Blackstone. Sunset Boulevard adding storage area of 628,000 square feet (58,300m2). But now, that long delay looks like a lucky break. Gorgeous unobstructed views of Sarasota Bay and City lights. Hospdate en esta casa de vacaciones en Norte de Hollywood. HPP and Blackstone expect to finish Sunset Glenoaks Studios in the third quarter of 2023, according to the announcement. By early 2020, Butler told the L.A. Times that construction had just gotten underway, and was expected to last 20 months. demand in LA by leading content creators for top-notch, fully integrated sound stages and support space continues to significantly outpace supply. In 2017, developer Hudson Pacific Properties submitted plans providing details of its new vision for Hollywood's landmark Sunset Gower Studios. In 1977, the property was purchased by the Pick Vanoff Company for $6.2 million. Its not just you, Work phones make a comeback as offices ban WhatsApp, TikTok, Desperate mountain residents trapped by snow beg for help; We are coming, sheriff says, Hidden, illegal casinos are booming in L.A., with organized crime reaping big profits. Sunset Glenoaks Studios will be a new complex on 10 acres on Peoria Street in an industrial district of Sun Valley near Glenoaks Boulevard.