Hudson Pacific Properties and Blackstone unveiled plans to develop the first large-scale purpose-built studio development in Los Angeles in more than two decades. Dubbed Sunset Glenoaks Studios, the 240,000-sq-ft, 10-acre project will house seven stages, ranging from 15,000 to 21,000 sq ft with 35-ft or 40-ft clear heights. The facility will also include nearly 120,000 sq ft of stage-adjacent support space, as well as offices, a large mill and parking. Construction is targeting LEED certification. Operations will be 100% carbon neutral with advanced waste, water and energy-use reduction programs. Construction is expected to complete in the third quarter of 2023 with a total investment of between $170 million and $190 million. The project was announced after Gov. Gavin Newsom approved including $150 million in incentives for newly constructed or renovated film facilities. The studio will be the fourth owned by Hudson Pacific and Blackstone funds under the Sunset Studios brand.