Last week, news broke that New York-based real estate firm Atlas Capital Group is planning a $650-million studio complex on the Arts District property that has long served as a printing plant for the Los Angeles Times. Now, an application submitted to the Planning Department unveils new details (and glossy renderings) for the project.
8th and Alameda Studios, named for its proposed location at the intersection of 8th and Alameda Streets, calls for transforming the 26-acre printing facility and its surrounding parking lot into more than 830,000 square feet of sound stages, office space, and other support functions.
Proposed new construction, designed by architecture firm Rios, is slated for the western half of the property, where a sprawling parking lot would be converted into three new buildings featuring a total of six soundstages. The proposed conversion of the printing plant would add 11 additional soundstages, resulting in a total of 17 across the property.
Architectural plans included with the project's entitlement package indicate that Atlas has proposed 250,000 square feet of new buildings on the campus, including 78,500 square feet of offices and 54,700 square feet of stage support space. An additional 133,800 square feet of offices space and 253,000 square feet of support facilities are planned for the existing buildings.
Additionally, the project would include the construction of a new nine-story parking structure at the northeast corner of the site, adding new capacity for up to 1,522 vehicles.
The Times reports that Atlas hopes to break ground on the first phase of the project as early as 2022.
Less certain is the timeline for the proposed reuse of the printing plant. The Times reports that the newspaper's lease expires at the end of 2023, but includes renewal options that could run for at least a decade.
The project represents the merging of two distinct trends in Los Angeles real estate - the rising cachet of the Arts District, and the intense demand for soundstages driven by the rise of streaming services such as Disney+ and Hulu.
8th and Alameda Studios is planned just west of a budding office district centered on the intersection of 7th Street and Santa Fe Avenue, where developers including Hines, Lowe, Tishman Speyer, Onni Group, and Jade Enterprises all have projects in the works. Likewise, residential developers such as AvalonBay Communities are building new housing complexes nearby.
The studio complex also follows the recent announcement of new office-soundstage hybrid campuses in Hollywood, following in the footsteps of successful projects from developers including Kilroy Realty and Hudson Pacific Properties.
Atlas Capital Group, which acquired the portfolio of defunct Downtown developer Meruelo Maddux in 2014, is also responsible for the nearby ROW DTLA complex at 7th and Alameda. The company's other local projects include a planned 725-unit apartment complex in Chinatown.
- Downtown (Urbanize LA)