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Television City To Get Major $1.25 Billion Expansion, Overhaul By Owner Hackman Capital
The Industry Apr 01, 2021
The Young and the Restless | Sonja Flemming/CBS
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Real estate developer Hackman Capital is planning to spend $1.25 billion to overhaul the nearly 70-year-old West Hollywood landmark CBS Television City including adding sound stages to supply the seemingly boundless demand.
The world’s first purpose-built television studio was built in 1952 and has expanded in a patchwork over the years. Hackman acquired the iconic 25-acre property for $750 million in 2019. It’s home to CBS’ The Late Late Show With James Corden, The Price Is Right and The Young and the Restless are recorded at Television City as well as Dancing With the Stars, American Idol and Real Time With Bill Maher.
The project — which Hackman calls TVC 2050 — will add up to 1.3 million square feet of new space and is designed “to address the needs of a modern studio and promote innovation and sustainability in production and operations,” the firm said Friday. It calls for nearly doubling the number of sound stages to 15 from 8 and adding new production support facilities, offices for rent and garage structures for up to 5,300 vehicles. Two stages built in the 1990s on the east side of the lot would be […]
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