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. It would be the first such project built in Los Angeles in decades, and it would help stop shows from fleeing to other states.
The neighbors didn’t like the plan, citing traffic and other objections, and the project got bogged down in years of costly litigation.
But now, that long delay looks like a lucky break.
Last week, Gov. Gavin Newsom signed a new $150 million tax credit into law, which is aimed to spur the construction of new production facilities. The 10-acre site in the Valley, now named Sunset Glenoaks, stands to be among the first in line to benefit.
On Thursday, the new owners of the project — a partnership of Hudson Pacific Properties and Blackstone — announced they intend...
The neighbors didn’t like the plan, citing traffic and other objections, and the project got bogged down in years of costly litigation.
But now, that long delay looks like a lucky break.
Last week, Gov. Gavin Newsom signed a new $150 million tax credit into law, which is aimed to spur the construction of new production facilities. The 10-acre site in the Valley, now named Sunset Glenoaks, stands to be among the first in line to benefit.
On Thursday, the new owners of the project — a partnership of Hudson Pacific Properties and Blackstone — announced they intend...
- 7/29/2021
- by Gene Maddaus
- Variety Film + TV
Los Angeles’ TV and movie production spaces faced multiple shutdowns during the pandemic, but owners and managers say tenants have hung onto sound stages and even extended leases to guarantee they have a place to resume work during a streaming-fueled production boom. Alton Butler, CEO of studio and production rental company, Line 204, said pent-up demand, as well as the exponential growth of streaming services hungry for original content, led producers of ongoing TV series or delayed new projects to maintain studio occupancy during the downtime so they’d be able to ramp up quickly when the industry reopened. The hope for a rebound kept many studios solvent during shutdowns, in some cases pivoting to using the spaces for set construction in preparation for the next production. “You are not going to vacate a stage during Covid,” Butler said. “There’s going to be such a line out the door after the pandemic — no way.
- 3/23/2021
- by Diane Haithman
- The Wrap
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