Universal City, already the world's largest movie studio lot, would also become a major office and residential hub as part of a $3-billion development plan unveiled Wednesday by owner NBC Universal.
Under the proposal, the historic studio would add a neighborhood with 2,900 homes and apartment units -- creating a new community at a time when large parcels of land for new housing are virtually unavailable within the urban core.
The housing would be served by a new north-south street, an attempt to ease additional congestion within an area already plagued by heavy visitor and commuter traffic.
The 25-year plan also calls for new production facilities, restaurants, stores, a hotel and improvements to both the studio tour and the Universal CityWalk retail and entertainment center. Universal would continue to operate its theme park and make movies and television shows.
Those additions would transform the 391-acre property and adjacent land into a more urban center, to the alarm of some nearby residents who voiced concerns Wednesday that more traffic might choke the area.
"Just because something is possible to build and makes sense from a corporate standpoint doesn't mean it's going to be good for all," said Daniel Savage, president of the Hollywood Knolls Community Club residents association. The group's members "are still extremely concerned about the potential negative impact on the community," he said.
The plan conforms to current urban planning trends that favor dense development around public transportation nodes. Universal is adjacent to a Metro Rail subway stop and near two freeways. New parking facilities also would be added near the subway terminal.
"This is really a chance for us to take Universal into the new century," studio President Ron Meyer said. "The plan makes sense for the community too."
Universal officials intend to file development applications with the city and county of Los Angeles early next year and begin an approval process that could take more than two years.
The project would create 17,000 construction jobs and add 11,000 permanent jobs to the 10,000 full- and part-time positions already at the studio, said NBC Universal, which is owned by General Electric Co.
The rolling land in the Cahuenga Pass is considered one of the region's prime pieces of property -- and one of its most underdeveloped.
