The City Council on Tuesday extended its development agreement with DreamWorks Animation for five years.
The original 15-year development agreement would have ended in the coming weeks.
Phil Lanzafame, the city’s chief assistant director for community development, said the studio has developed roughly 460,000 square feet of space and still has rights under the original deal to develop another 35,000 square feet.
Jeffrey Haber, an attorney for DreamWorks, said the company wants to preserve the right to develop further, though it has no specific plans to do so.
Lanzafame told the City Council that if the studio ever sought to develop more than the remaining 35,000 square feet, it would require a new agreement and likely a full environmental review.
The City Council voted unanimously to approve the extension.