Hackman Capital Partners received a “lights, camera, action!” for its $1.25 billion plan to redevelop its Television City studios in L.A.’s Fairfax Historic District.
The Culver City-based developer was approved by the Los Angeles City Council to revamp the 25-acre landmark production complex once known as CBS Television City at 7800 Beverly Boulevard, Urbanize Los Angeles reported.
The approval allows founder Michael Hackman to finally triumph over years of opposition to his 980,000-square-foot redevelopment plan. Hackman Capital has said it aims to complete the project by 2028.
This fall, the city’s Planning Commission OK’d a specific plan to move the project forward, 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 project faced opposition from A.F. Gilmore and Caruso, owners of the Original Farmers Market and The Grove shopping mall next door, which claimed it violated zoning rules and environmental laws.
Plans for a new Television City include a combined 1.74 million square feet of offices, shops and soundstages, while retaining 264,400 square feet of existing studios and adding 550,000 square feet of production-related offices.
About 479,300 square feet will 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 will 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.
The project, designed by London-based Foster + Partners, would “activate its exterior” by adding commercial uses along Beverly Boulevard to the north and Fairfax Avenue to the west, according to Urbanize.
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.
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