Los Angeles city Santa Monica Hollywood film stage Los Angeles city Santa Monica

Bain Capital Real Estate To Invest $450M In New Studio Site On Santa Monica Boulevard

deadline.com

Bain Capital Real Estate said Tuesday it’s submitted plans with the city of Los Angeles to invest $450 million to develop a five acre studio site on Santa Monica Boulevard.The entitlement process can take a year or more and the group is hoping to start development in February of 2023.

The site is an old Sears building and parking lot, not too far from Paramount Studios.The new urban campus called Echelon Studios will feature four 19,000-square-foot sound stages, a 15,000-square-foot flex stage and a 90,000-square-foot “creative village” of high-end bungalows.

It’s the latest in a stream of announcements from various developers for new or expanded studio space as the proliferation of streamers boosted demand for content and places to make

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