Paramount plans $700M revamp of Hollywood lot Paramount plans $700M revamp of Hollywood lot
LOS ANGELES — Viacom Inc.'s Paramount Pictures movie studio plans to apply to the city of Los Angeles for approval on a 25-year, $700 million plan to refurbish the lot in Hollywood it has occupied since 1926.
The approval process could take about two years.
The studio plans to gradually revamp the 62-acre lot by tearing down some buildings and constructing new ones, turning surface parking lots into structures and expanding sound stage space to 383,100 square feet from 362,100 square feet.
The aim is to make the cramped lot more efficient, create better traffic flows, allow production offices to be closer to sound stages and make it easier for wardrobe trucks and dressing room trailers to get in and out.
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