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Paramount Pictures gets greenlight for $700M expansion

Entrance to Paramount Pictures at 5555 Melrose Avenue (Credit: Seeing Stars)
Entrance to Paramount Pictures at 5555 Melrose Avenue (Credit: Seeing Stars)

It’s lights, camera, action for Paramount Pictures, after the City Council approved the film studio’s 25-year plan to redevelop and expand its lot on Melrose Avenue.

Under Paramount’s $700 million master plan, approximately 1.4 million square feet will be added to its Hollywood headquarters and adjacent properties owned by the company.

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As part of the approval, Paramount will be making more than $7.2 million in neighborhood enhancements, 13th district Council member Mitch O’Farrell told the L.A. Times following Tuesday’s approval.

”Paramount has found a way to grow and evolve into the future with minimum impact to the surrounding neighborhood,” O’Farrell said.

During the years of environmental review and community outreach — the expansion plan was introduced in 2011 — some residents had expressed concern about possible effects on traffic and obstructed neighborhood views. [LAT] — Cathaleen Chen

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Hollywood