NoHo Studio Plan Backed by Council

Plans to make North Hollywood a hub of the entertainment industry moved closer to reality Wednesday when the City Council decided to pursue developer J. Allen Radford’s plans to build a $750-million studio and commercial complex.

The council agreed to negotiate exclusively with Radford, meaning that construction could start next to the North Hollywood subway station as early as next year.

The first stage, called the North Hollywood Studio Project, involves the construction of 10 sound stages and support offices occupying 432,000 square feet on the corner of Vineland Avenue and Cumpston Street, within the NoHo Arts District.

Radford, representing the Jarco/SLG&G; partnership, expressed confidence.

“We are the largest single landowner within the district, and we have our team assembled, our financing in place to complete our first phase,” he said. “We are ready to move forward, with council approval, and are thrilled to be there in North Hollywood. It has long been neglected, and it is time for North Hollywood to have its turn in the East Valley, and thank you very much.”

Radford’s plan was approved over that of Anko Construction Inc.

Zllyan Bond, representing Anko, had asked the council to order the Community Redevelopment Agency to reconsider its choice of Radford.

CRA Administrator John Malloy told the council his agency’s selection of Radford was fair, based on financial data, the nature of the project and other factors.

“We’ll also be reporting back to the council periodically on the status of the negotiations,” Malloy said.

“It is not a recommendation for any project. The recommendation before you is to to go into an exclusive negotiation with the recommended team.”

The council’s approval included requirements that Radford identify potential tenants, amass financing for land acquisition and construction, and prove that the project will actually work.

Jarco must also submit 30- and 90-day progress reports.

Councilman Joel Wachs, in whose district the project is planned, praised both developers, but supported Jarco’s selection.

“You basically have two developers before you, and they’re both good,” he said. “It’s like when the 49ers tried to decide do they keep Steve Young or [Joe] Montana. They’re both very, very good.

“I think the decision to go with Jarco makes good sense. They own 40-plus percent of the property, which they might not want to sell to a competing developer,” Wachs said.

Phase two of the project includes 385,000 square feet of office and retail space.

Phase three calls for two 20-story office towers, 20 restaurants and movie theaters.

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NoHo Studio Complex Advances

The Los Angeles City Council agreed Wednesday to pursue a studio complex in North Hollywood. The 2.8 million-square-foot project would be built on 42 acres near the MTA station. construction could begin next year on 10 sound stages, with additional construction in future phases.

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Plan includes:

* 10 sound stages and support facilities

* Two 20-story office buildings

* 20 restaurants

* Retail stores

* 400 condominiums

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Source: JARCO/SLG&G; LLC