12/6/2006

From LABJ's newsflash this afternoon:

"Facelift Proposed for Universal City"
By DANIEL MILLER - 12/6/2006
Los Angeles Business Journal Staff

"After months of discussions with city officials, NBC Universal Inc. is proposing a major expansion and upgrade of its Universal City property, including 2,900 apartments, lofts and condominiums; additional office space; and an upgrade of its studio and entertainment facilities.

Mayor Antonio Villaraigosa and Universal Studios Inc. President Ron Meyer are expected to announce the 25-year plan this afternoon at the Universal Studios Hollywood theme park.

The plan specifically calls for a 124-acre development of 2,900 homes on an open hillside adjacent to Universal Studios. Some 35 acres would be set aside for open space with the residences grouped into three “villages,” according to a press release issued by NBC Universal, a unit of General Electric Co.

NBC Universal plans to discuss with the Metropolitan Transportation Authority building a studio and office campus at the Universal City MTA Station. Thomas Properties Group Inc., which served as an advisor to NBC Universal on the plan, would develop the complex, which would include 450,000 square feet of office space and 200,000 square feet of production facilities. A second 400,000-square-foot office building could also be built by Thomas Properties.

A refreshed Universal Studios theme park and City Walk is another key to the plan." .... for the rest of the article see: http://labusinessjournal.com/enews_article.asp?aID=35595245.2886927.1403753.1746136.4840749.151