The owners of the nearly 100-year-old Radford Studio Center, also known as the CBS Studio Center, have unveiled renovation plans for the historic facility — an estimated $1 billion that will include state-of-the-art sound stages, production and support offices, sustainability measures. heritage conservation and transport infrastructure.
ViacomCBS (now Paramount Global) sold the center to Hackman Capital Partners and Square Mile Capital Management for $1.85 billion in 2021. The million-square-foot site hosts dozens of film and television productions annually and also houses the CBS News- office in Los Angeles. , KCAL News and entertainment tonight
The plan proposes adding up to 1 million new net square feet (well below what it was designed for, the plan says).
Los Angeles and other production centers still lack studio space. The LA locations operate at nearly 100 percent capacity, sometimes with long waiting lists that force productions elsewhere. Dozens of studio projects are planned or under development across the country and European centers to meet demand that far exceeds supply.
Radford Studio Center, originally Mack Sennett Studios, opened in 1928 as one of the most advanced production facilities of its time and home to series The Mary Tyler Moore Show, Gilligan’s Island, Seinfeld, Will & Grace And That show from the 1970s.
“This studio means so much to our community, not only as a major content creation hub, but also as the economic engine for so many shops and restaurants on Ventura Boulevard and the Studio City area. We must ensure that Radford remains a robust job creator and world-class manufacturing facility for decades to come,” said Michael Klausman, President of the Center.
But: “Parts of the studio are very outdated. What we are doing is keeping the facilities up to date and replacing outdated spaces with the modern sound stage and production facilities that today’s content creators require.”
The upgrade plans announced today include commitments to preserve local jobs, honor the studio’s legacy, invest in an environmentally sustainable future and “create a vision for the studio’s future that respects its neighbors.”
The plan specifically includes:
-Capacity for 20-25 modern purpose built sound stage
– Flexible production offices and support facilities next to the stages
-General office space
– Preservation of historical parts of the studio
– Activating the Los Angeles River Masterplan connecting bicyclists and pedestrians with trails
-Improved access and egress to the site with two new studio gates; simplified and optimized internal circuit
– Plenty of base camps and on-site parking
-A robust transport demand management program and “new multimodal mobility hubs”
– Improved public and pedestrian experience
– End-to-end sustainability features – including a commitment to an all-electric studio
“This plan was designed with Studio City in mind and fits the size and character of our community. It includes industry-leading sustainability investments and provides state-of-the-art production facilities to sustain productions and jobs in Los Angeles, giving the studio another century of supremacy,” said Zach Sokoloff, Hackman’s SVP.
The real estate developer cited a report by the LA County Economic Development Corporation that said the Radford plan would result in a total economic output of $2.37 billion during construction and generate $5.5 billion annually, and an estimated 8,070 direct work will support upon completion.
Source: Deadline
Joseph Fearn is an entertainment and television aficionado who writes for The Fashion Vibes. With a keen eye for what’s hot in the world of TV, Joseph keeps his readers informed about the latest trends and must-see shows.
