Hackman’s $1.25B Television City project clears environmental hurdle

Hackman Capital Partners has cleared one of the tallest hurdles facing its $1.25 billion Television City project, clearing the way for the development’s full approval. 

The City of Los Angeles has certified a key environmental review, known as an environmental impact report, for the firm’s 25-acre project, according to a city Planning Department ruling. 

Television City, which sits opposite The Grove shopping center at 7800 Beverly Boulevard, will include about 1.74 million square feet of soundstages, offices and retail space. The firm had originally planned for an additional 150,000-square-foot, 15-story office tower, but cut that plan earlier this year. 

“There is an urgent need to jump-start film and television production in Los Angeles,” Hackman’s Zach Sokoloff, who is overseeing the development, said in a statement. 

Hackman bought the site, currently a CBS studio, for $750 million in 2019. A couple years later, the firm filed plans to redevelop and renovate the studio. 

Hackman filed its draft environmental review in July 2022, triggering backlash from neighbors including Rick Caruso’s The Grove and the Los Angeles Farmers Market. But ultimately, the developer scored approval from a neighborhood council. 

The final review was released in November 2023.

With a certified environmental impact report, the city can now proceed with approving and entitling the project or suggesting an alternative that fits within the review’s boundaries. 

The final environmental review found that the project would have “less than significant” impact on emissions during both construction and operations, and no impacts to the “aesthetic” of the area. 

The certification can still be appealed before June 7, according to the planning document.