Hackman Capital Partners has beat back appeals to its $1.25 billion plan to redevelop Television City in Fairfax with more soundstages, offices and shops.
The Culver City-based investor led by Michael Hackman was approved by the Los Angeles City Planning Commission to revamp the 25-acre landmark production complex once known as CBS Television City at 7800 Beverly Boulevard, Deadline reported.
The commission OK’d a specific plan for the project as well as its environmental impact report, denying appeals by nine businesses and community groups opposed to a TVC 2050 plan to build on the storied lot at Beverly and Fairfax Avenue.
The groups, including The Grove shopping mall next door owned by billionaire developer Rick Caruso, had appealed the project, saying its size was too large for prime time in the historic Beverly Fairfax neighborhood.
Plans for a new Television City include a total of 1.74 million square feet of soundstages, offices and shops, while retaining 264,400 square feet of existing studios and adding 550,000 square feet of production-related offices.
About 479,300 square feet would be bulldozed to make way for new buildings on the studio lot known for such shows as “All in the Family,” “Sonny and Cher” and “American Idol.”
Hackman would bump the number of soundstages to 15, from eight. The firm would demolish two stages built in the 1990s, while preserving four original stages built by CBS in 1952, along with historic design elements.
In April, Hackman nixed a plan for a 150,000-square-foot, 15-story office tower.
The developer also launched a mobility program to reduce traffic congestion, while agreeing to provide $6.4 million for new bike lanes, sidewalk repairs and local arts programs and upgrades to nearby Pan Pacific Park.
Hackman bought the CBS studio, founded in 1952 next to the Original Farmers Market, in 2019 for $750 million. CBS is its major tenant. A projected timeline for its redevelopment was not disclosed.
— Dana Bartholomew
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