BARDAS Investment Group and Bain Capital Real Estate have announced plans for the $600 million redevelopment of the Television Center at 6311 Romaine Street in the heart of Hollywood that will transform the historic facility into a modern 620,000-square-foot urban studio campus.
The central art deco office building is situated in what could be called Hollywood hallowed ground. In 1919, Metro built its huge studio covering four city blocks. By 1924, the studio was known as Metro-Goldwyn-Mayer. Hollywood was evolving and in 1930, MGM moved to Culver City and the building that would become Technicolor's headquarters was established. Since 2014 it has operated as Television Center, an office complex catering to entertainment and production offices.
Technology has evolved and now a reimagined creative office environment along with a state-of-the-art production facility will be combined with the preservation of many of the distinctive buildings built during Technicolor's heyday.
The project will become an intimate new studio campus rebranded as Echelon Television Center, according to BARDAS founder and Managing Principal David Simon.
"This project represents our company's continued focus on redeveloping infill product for the entertainment and media industries in the content capital of the world," said Simon. "The old home to Technicolor and Metro Pictures represents another great opportunity to keep 'Hollywood in Hollywood'."
Bain Capital Real Estate Managing Director Joe Marconi added, "We are extremely excited to breathe life back into this site, honoring its past while delivering an exceptional project curated for today's content creators in the heart of Hollywood. Similar to our Echelon Studios project, Echelon at Television Center will be another great addition to the entertainment and media landscape in Hollywood."
The property will be managed under the joint venture's Echelon brand, which provides a unique amenity core of hospitality programming and services including on-site experiences, wellness platforms, food and beverage branded operators and on-site management catering to the needs of the media and entertainment community. DH