CRA Panel Backs Plan for Film Studio Complex
NORTH HOLLYWOOD — A city panel recommended Tuesday that a $750-million movie studio and commercial complex be built next to the North Hollywood subway station by Santa Monica developer J. Allen Radford and his partners.
A committee of Community Redevelopment Agency managers and outside consultants recommended the 42-acre project by Radford’s partnership, called Jarco / SLG&G;, over a competing proposal by builders William Kokott and Nicholas Angelos.
The decision means construction of studio sound stages could begin next year.
On March 4, the CRA board will consider negotiating exclusively with Radford to work out a development agreement on the project, called the North Hollywood Studio Complex.
“We’re very pleased and very excited that we were chosen,†Radford said.
He plans 2.8 million square feet of commercial space and 400 condominiums.
“It has the potential to offer a great degree of economic development to the North Hollywood area,†said CRA board member Keith Richman, a San Fernando Valley physician.
Radford has proposed starting early next year with construction of 10 sound stages and support offices totaling 432,000 square feet on the southwest corner of Vineland Avenue and Cumpston Street.
The second phase would include 385,000 square feet of offices and retail space. Phase 3 would include two 20-story office towers, 20 restaurants and movie theaters.
Radford has asked the CRA to make commitments worth about $15 million, in addition to $14 million in federal loan guarantees already committed, one city source said.
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