SorcererMickey
December 17th, 2004, 14:14
New Disney campus to get going - Ground breaking set today
By Naush Boghossian, Staff Writer
GLENDALE -- The Walt Disney Co. breaks ground today on the first phase of a 125-acre campus that eventually will house its theme-park designers, sound stages and a high-tech business center.
The first phase of the Grand Central Creative Campus project -- or GC3 -- at Grandview Avenue and Flower Street will include two art deco-style office buildings. Construction of the 250,000-square-foot project is expected to be completed by December 2006.
The ambitious GC3 project, touted as the engine that will revitalize the mostly industrial west Glendale neighborhood, will total 6 million square feet of office space by 2035.
Under the plan, dozens of four- to six-story office buildings will house 10,000 Disney and other high-tech company employees.
"If and when it is built out by Disney, this is potentially a billion-dollar development. It has a tremendous amount of potential and it also helps continue to solidify Disney's presence in Glendale, which has been very important to us," City Manager Jim Starbird said.
"The first phase is a relatively small piece of an ultimately very large project that will be a benefit to the city and the region."
Disney officials had no comment.
The Grand Central Business Park, located near KABC-TV studios and the DreamWorks animation campus, is currently home to mostly 1950s-era concrete buildings, where Imagineering has operated since 1961.
But plans are to surround the campus, which was once the site of Los Angeles' first major airport, with greenbelts, courtyards, walkways, parkways, tree-lined streets and planted medians.
The development agreement with the city of Glendale details that Disney must build at least 250,000 square feet every five years. The first deadline was the end of 2004 and that phase should be completed by December 2006.
Disney has the flexibility not to build out the entire project as envisioned, or to build it out in less than 30 years.
Interim Director of Development Service Phil Lanzafame estimates that build-out of GC3 will require about $120 million in public infrastructure improvements, which would be paid for by Disney.
"We're trying to use the redevelopment tool to create incentives for private investment to occur that also creates benefit for the whole community with new public infrastructure," he said.
The creative campus is one large piece of the city's long-term vision of bringing in quality jobs, housing and retail activity closer to downtown.
The City Council has been approving downtown housing projects, in addition to developer Rick Caruso's $264 million retail, entertainment and dining complex in downtown Glendale.
"The GC3 project is an important part of the overall picture of keeping Glendale vital in the long-term," Starbird said.
Lanzafame estimates the GC3 jobs would add about $1.5 billion in payroll to the local economy, not counting spin-off benefits including employees buying homes in Glendale, using services in Glendale and spending money in Glendale.
City officials have estimated that the project would bring more than $400 million in new revenue over 30 years.
"I think it's important that Disney is following through with their contract and they are spending money to build this project and GC3 is moving forward," Mayor Bob Yousefian said. "It's further proof that the city of Glendale is a great city to live in, to work in and to invest in."
Source: http://www.dailynews.com/Stories/0,1413,200~20946~2602898,00.html
By Naush Boghossian, Staff Writer
GLENDALE -- The Walt Disney Co. breaks ground today on the first phase of a 125-acre campus that eventually will house its theme-park designers, sound stages and a high-tech business center.
The first phase of the Grand Central Creative Campus project -- or GC3 -- at Grandview Avenue and Flower Street will include two art deco-style office buildings. Construction of the 250,000-square-foot project is expected to be completed by December 2006.
The ambitious GC3 project, touted as the engine that will revitalize the mostly industrial west Glendale neighborhood, will total 6 million square feet of office space by 2035.
Under the plan, dozens of four- to six-story office buildings will house 10,000 Disney and other high-tech company employees.
"If and when it is built out by Disney, this is potentially a billion-dollar development. It has a tremendous amount of potential and it also helps continue to solidify Disney's presence in Glendale, which has been very important to us," City Manager Jim Starbird said.
"The first phase is a relatively small piece of an ultimately very large project that will be a benefit to the city and the region."
Disney officials had no comment.
The Grand Central Business Park, located near KABC-TV studios and the DreamWorks animation campus, is currently home to mostly 1950s-era concrete buildings, where Imagineering has operated since 1961.
But plans are to surround the campus, which was once the site of Los Angeles' first major airport, with greenbelts, courtyards, walkways, parkways, tree-lined streets and planted medians.
The development agreement with the city of Glendale details that Disney must build at least 250,000 square feet every five years. The first deadline was the end of 2004 and that phase should be completed by December 2006.
Disney has the flexibility not to build out the entire project as envisioned, or to build it out in less than 30 years.
Interim Director of Development Service Phil Lanzafame estimates that build-out of GC3 will require about $120 million in public infrastructure improvements, which would be paid for by Disney.
"We're trying to use the redevelopment tool to create incentives for private investment to occur that also creates benefit for the whole community with new public infrastructure," he said.
The creative campus is one large piece of the city's long-term vision of bringing in quality jobs, housing and retail activity closer to downtown.
The City Council has been approving downtown housing projects, in addition to developer Rick Caruso's $264 million retail, entertainment and dining complex in downtown Glendale.
"The GC3 project is an important part of the overall picture of keeping Glendale vital in the long-term," Starbird said.
Lanzafame estimates the GC3 jobs would add about $1.5 billion in payroll to the local economy, not counting spin-off benefits including employees buying homes in Glendale, using services in Glendale and spending money in Glendale.
City officials have estimated that the project would bring more than $400 million in new revenue over 30 years.
"I think it's important that Disney is following through with their contract and they are spending money to build this project and GC3 is moving forward," Mayor Bob Yousefian said. "It's further proof that the city of Glendale is a great city to live in, to work in and to invest in."
Source: http://www.dailynews.com/Stories/0,1413,200~20946~2602898,00.html