Echelon Studios Hollywood Nears Completion, a $450 Million Vertical Studio Project

Developer David Simon is nearing completion on Echelon Studios Hollywood, a $450 million vertical studio project located on a 5-acre site on Santa Monica Boulevard, formerly home to a Sears store. Set to open early next year, the innovative design by RIOS architect Andrew Wright packs five soundstages, production facilities, offices, and "base camp" areas into a single building. A unique feature includes landscaped bungalows on the top floor, offering panoramic views and aiming to replicate the classic studio experience.

This significant investment comes amidst a notable downturn in local film and television production, with feature film shoots down 20% and TV production down 30% in the second quarter compared to the previous year, according to FilmLA. Simon, however, remains optimistic, citing expanded state tax credits and a pending 20% federal tax credit as catalysts for a production rebound. Jamie Crosbie, who will lead studio operations, believes the industry is on the "precipice of a real renaissance."

The project, conceived about five years ago during a period of high demand for soundstages, represents a strategic bet on Hollywood's enduring appeal as a production hub. For developers and investors, Echelon Studios Hollywood signifies a belief in the long-term viability of the entertainment real estate market in Los Angeles, potentially setting a new standard for urban studio design and attracting productions seeking modern, consolidated facilities.