October 12, 2016 Comments Off on Paramount Pictures $700M Expansion Approved Views: 379 California, California News, West

Paramount Pictures $700M Expansion Approved

The Los Angeles City Council unanimously approved Paramount Pictures’ $700-million expansion plan envisioned to transform the 62-acre studio lot over the next 25 years. The master plan calls for building up to roughly 1.9 million square feet of new sound stage, production office, support, office, and retail uses at the iconic Melrose Ave. site.

The longest operating major studio in Hollywood seeks to modernize facilities in order to better compete with other studios. The new technologically-advanced soundstages and adjacent production offices, as well as high-tech post production facilities are expected to help retain more productions in Hollywood.

No construction start date has been set at the only major film studio HQ’d in Hollywood. The studio’s proposal includes removing roughly 536,600 square feet of existing space, resulting in a net addition of 1.4-million square feet.

New Soundstage

New Soundstage

top-paramount-site-plan

Site Plan

Read More at Los Angeles Times

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