With our free press under threat and federal funding for public media gone, your support matters more than ever. Help keep the LAist newsroom strong, become a monthly member or increase your support today.
This is an archival story that predates current editorial management.
This archival content was written, edited, and published prior to LAist's acquisition by its current owner, Southern California Public Radio ("SCPR"). Content, such as language choice and subject matter, in archival articles therefore may not align with SCPR's current editorial standards. To learn more about those standards and why we make this distinction, please click here.
Old Hollywood Dame Paramount Studios to Get a $700M Facelift
Photo by Atwater Village Newbie via the LAist Featured Photos pool
()
Paramount Studios, located at 5555 Melrose Avenue since 1926, is prepping one helluva production: A $700 million property upgrade that will happen over 25 years. The historic studios have called this the "Hollywood Project," according to the Hollywood Reporter.
The main goal is to modernize structures and develop portions of the 62-acre property. Paramount says they intend to "maintain many of the historic structures while modernizing them."
In addition to the upgrades and changes on their core lot, Paramount is including six adjacent lots as part of the "Hollywood Project."
The studio says the endeavor will create thousands of jobs and generate an estimated $3.1 billion in annual economic output.
Support for LAist comes from
Paramount is the last of the major and pioneering movie studios located in Hollywood proper. The facility has an impressive and storied history.
At LAist, we believe in journalism without censorship and the right of a free press to speak truth to those in power. Our hard-hitting watchdog reporting on local government, climate, and the ongoing housing and homelessness crisis is trustworthy, independent and freely accessible to everyone thanks to the support of readers like you.
But the game has changed: Congress voted to eliminate funding for public media across the country. Here at LAist that means a loss of $1.7 million in our budget every year. We want to assure you that despite growing threats to free press and free speech, LAist will remain a voice you know and trust. Speaking frankly, the amount of reader support we receive will help determine how strong of a newsroom we are going forward to cover the important news in our community.
We’re asking you to stand up for independent reporting that will not be silenced. With more individuals like you supporting this public service, we can continue to provide essential coverage for Southern Californians that you can’t find anywhere else. Become a monthly member today to help sustain this mission.
Thank you for your generous support and belief in the value of independent news.
Chip in now to fund your local journalism
(
LAist
)
Trending on LAist
-
Doctors say administrator directives allow immigration agents to interfere in medical decisions and compromise medical care. -
The Palisades Fire erupted on Jan. 7 and went on to kill 12 people and destroy more than 6,800 homes and buildings. -
People moving to Los Angeles are regularly baffled by the region’s refrigerator-less apartments. They’ll soon be a thing of the past. -
Experts say students shouldn't readily forgo federal aid. But a California-only program may be a good alternative in some cases. -
Distrito Catorce’s Guillermo Piñon says the team no longer reflects his community. A new mural will honor local leaders instead. -
The program is for customers in communities that may not be able to afford turf removal or water-saving upgrades.
Best of LAist