A residential and office complex is planned for Universal Studios lot.
Universal City, already the world’s largest movie studio lot, would also become a major office and residential hub as part of a $3-billion development plan unveiled Wednesday by owner NBC Universal.
Under the proposal, the historic studio would add a neighborhood with 2,900 homes and apartment units – creating a new community at a time when large parcels of land for new housing are virtually unavailable within the urban core.
The housing would be served by a new north-south street, an attempt to ease additional congestion within an area already plagued by heavy visitor and commuter traffic.
The 25-year plan also calls for new production facilities, restaurants, stores, a hotel and improvements to both the studio tour and the Universal CityWalk retail and entertainment center. Universal would continue to operate its theme park and make movies and television shows. MORE