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NBCUniversal Media announced last week it had revised the development plan of Universal City, its huge property in Los Angeles (California, United State) where stand its film production studios and the entertainment complex of Universal Studios Hollywood. This decision comes just months after the acquisition of the company by Comcast that wished to redefine the objectives and content of the plan.
Named "Evolution", this master plan was first unveiled in late 2010 and originally foresaw a series of new developments over a period of 20 years for an investment then estimated at nearly $3 billion, or about €2.5 billion.
Among these developments were planned the expansion of the theme park (with the construction of 7 new rides), the reorganization of the Studio Tour route (with the loss of certain scenes in the backlot), the expansion of the entertainment complex Universal Citywalk (with a 500-rooms hotel and a theater), new facilities for production studios and the creation of a residential area of 50 hectares (123 acres) with nearly 3,000 housing units.
It is this latter part of the plan which was finally simply suppressed. It was indeed criticized by local politicians, residents, associations of the film/television industry and even by some shareholders of the Group. The main argument advanced was the incompatibility of a residential area with the activities of a studio and an entertainment complex that might no further expand in the future, resulting in damage for employment and business development.
The amended master plan, which investment is now estimated at $1.6 billion (approximately €1.3 billion) will now focus on production and post-production facilities (5 additional acres/2 hectares) and the expansion of both Universal Studios Hollywood theme park (10 additional acres/4 hectares) and CityWalk (10 additional acres for the development of other hotels and car parks)
“After taking a hard look at the project, the current real estate market, our business needs as well as the new owner's priorities, we believe it's best to ask the City and County to focus on the Evolution Plan No Residential Alternative in the Final EIR for the upcoming hearing process and for our 20-year plan to eliminate the residential and retain our backlot for production” stated NBCUniversal. “This is the right time in the process to make this decision and it will enable us to concentrate and invest in our core businesses, television and film production, Universal Studios Hollywood Theme Park and CityWalk. Planning for our future in a way that is responsive to the community has always been a priority of the Evolution Plan and today marks the next step in making this important project a reality.”
NewsParcs will do a full coverage of the IAAPA Attractions Expo 2013 in Orlando to have a look at the latest trends and developments of the global theme park industry.
