Olympics broadcast center and movie studio coming to Hollywood Park
Construction will start by summer on the studio and production facility that will house hundreds of broadcasters from around the world that have acquired rights to cover the Summer Games in Los Angeles, Kroenke's company said Tuesday.
After the Games, the facility known as Hollywood Park Studios will be used to make movies, television shows and other productions and perhaps host live broadcasts.
The development is part of Hollywood Park, a multibillion-dollar complex built on the site of a former horse racing track also known as Hollywood Park that includes the stadium, apartments, theaters, offices, shops and restaurants.
A luxury hotel is under construction there, and more development including a grocery store and medical offices is being considered.
Kroenke's organization hopes that attention from the Olympics will boost Hollywood Park Studios' appeal as a future entertainment production center.
"We want it to be recognized around the world," said Alan Bornstein, who is overseeing development of the studio for Kroenke.
Read more: New hotel at SoFi Stadium to cater to athletes and fans
The studio is part of Hollywood Park's master development plan focusing on media, entertainment and technology, Bornstein said, anchored by SoFi Stadium, YouTube Theater and the NFL Media office building.
"There has been an increasing convergence of media and technology and sports, all under the notion of entertainment that is now distributed in in multiple channels," Bornstein said, "whether it's through streaming or whether through broadcast television or movies in theaters,"
The first phase of Hollywood Park Studios will occupy 12 acres and will consist of five soundstages, each 18,000 square feet, two of which may be opened to a single 36,000-square-foot stage.
The complex will have a three-story, 80,000-square-foot office building to support stage, production and postproduction activities. The studios will have a dedicated open base camp where trucks, equipment and actors' trailers could be placed, along with a parking structure for 1,100 cars. Future development could include as many as 20 stages and 200,000 square feet of related office space.
The additional stages would be built to suit for future tenants as demand emerges, Bornstein said, who declined to estimate how much the studio complex will cost.
Although demand for soundstages outstripped supply a few years ago, production has recently slowed and dampened the current need for them.
Last year, the average annual occupancy rate dropped to 63%, a further indication of Hollywood's sustained production slowdown, according to a recent report by FilmLA, a nonprofit organization that tracks on-location shoot days in the Greater Los Angeles area.
That was a decline from 2023, which saw an average regional occupancy rate of 69%. That was the year when dual strikes by writers and actors crippled the local production economy for months.
The foray into Hollywood-level production facilities is part of Kroenke's goal to combine sports, entertainment and media from around the world, Bornstein said.
In addition to the Rams, Kroenke is owner of the Denver Nuggets basketball team, the Colorado Avalanche hockey team, the Colorado Rapids soccer team, the Colorado Mammoth lacrosse team and Arsenal Football Club, the Premier League soccer team based in London.
SoFi Stadium, where the Chargers also play football, will be converted into the largest Olympic swimming venue in history during the Games in 2028. It will host the Olympic opening ceremony with the Los Angeles Memorial Coliseum, as well as the opening ceremony for the Paralympic Games.
Kroenke is also a major real estate developer and landlord. The 300-acre Hollywood Park project is one of the largest mixed-use developments under construction in the western United States. SoFi Stadium alone cost $5 billion to build.
Read more: Rams' new headquarters to be centerpiece of ambitious Warner Center development project
Last month, he also unveiled plans for a new Rams headquarters on a 100-acre site at Warner Center in Woodland Hills that would include a residential and retail community intended to be the centerpiece of the San Fernando Valley. It could cost more than the total price of Hollywood Park, which has been valued by outside observers at more than $10 billion.
Creating a second epicenter in Woodland Hills allows the Rams to significantly increase the size of their footprint in the Southern California market.
'When you're looking to do a practice facility, you don't need to be right in the middle of everything, and typically that real estate is very expensive,' Kroenke told The Times. 'We built an identity in the Valley, with Cal Lutheran, and a lot of our players and families are up there. Our experience was really good.'
Architecture firm Gensler spearheaded the design for the Warner Center headquarters and Hollywood Park Studios. Clayco will be the general contractor for the studio, with Pacific Edge acting as project manager. Financing was arranged by Guggenheim Investments.
Times staff writer Sam Farmer contributed to this report.
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This story originally appeared in Los Angeles Times.
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