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The 240,000-square-foot project will include seven film- and TV-ready soundstages, production office . The Poverty Row area of Hollywood, bounded by Sunset Boulevard on the North, Gower Street on the West, and Beachwood Drive on the East, was a collection of small warehouses and offices where independent film makers gathered to buy "short ends" of film from the major studios, in order to create their "great American dreams". It is located in the Valley Village neighborhood of Los Angeles. Line 204, a company that owns soundstages in Pacoima and Hollywood, first proposed building the studio in 2014 on the site near the corner of Glenoaks Boulevard and Peoria Street in Sun Valley. The firm did swing back to profitability, with $8.1 million in net income in the fourth quarter, compared with a $9.3 million net loss in the third quarter. In the fourth quarter, Hudson Pacific finished its 584,000-square-foot One Westside project a former mall that was redeveloped into office space and is leased to Google. Hudson Pacific and Blackstone are adding a fourth project to their Sunset Studios family, unveiling plans to build Sunset Glenoaks Studios amid a booming development market for sound stages. Hudson Pacific buys Quixote Studios in $360-million deal - Yahoo News The project is estimated to cost between $180 million and $200 million. (W)e do not believe that the project being entitled prior to the legislations signing would preclude Sunset Glenoaks tenants from benefiting from these new tax credits, said Jeff Stotland, senior vice president of global studios at Hudson Pacific, in a written response. It will be the fourth such property managed by the two firms, and bring their total to 42 sound stages. Seven film . 1 Available. But now, that long delay looks like a lucky break. Advertisement. Sunset Studios. Victor Coleman, chairman-CEO of Hudson Pacific called Sunset Glenoaks a perfect example of our long-term strategy with Blackstone to buy and transform existing facilities and to build new, state-of-the-art studios within Los Angeles and other high-priority production markets weve identified for expansion.. Specialty Preview, Ozy Media Closes In Wake Of Founder Carlos Watson Scandal, TikTok Introduces New Feature To Limit Screen Time For Teens, Rachael Ray Daytime Talk Show To End After 17 Seasons, Eyes $45.5M Opening In U.S., A Record For Rocky Spinoff Franchise & Amazon, SAG-AFTRA And Casting Directors Weigh In On Self-Tape Controversy, Oscar Winner Guillermo Del Toro On The Films That Lit His Fuse. Square footage may change over time due to re-measurement or re-leasing. New light . Application - S&P Global All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. Greystone sells Lantana apartments to real estate mogul for $10M, Sticker shock: Ranking South Floridas priciest residential rentals, High Street, Daiwa bring resi to River Oaks, St. Charles revamp of torched resort takes center stage in local City Hall races, LIV plans massive resi project in Fort Worth, KBS deal to sell Union Bank Plaza to Joel Schreiber delayed for 9th time. Baskin-Robbins adds a hint of waffle, and voila, Newsom, IRS give Californians until October to file tax returns, Federal Reserve officials sound warnings about higher rates.