The Walt Disney Co. plans to build a major new entertainment industry center in Glendale that it is calling a “creative campus.”
While the price for such a venture has not been disclosed, it is likely that developing the property fits into Disney’s current cost-cutting program.
Disney has owned the Glendale property, which was once an airport, since 1997; developing it may well be part of an effort to centralize business divisions — some of which are on Disney’s Burbank lot, others in various San Fernando Valley locales. Eventually, the company would save on office-rental fees.
Said Ed Chuchla, development director for Disney’s Imagineering division: “We have had a presence in Glendale for over 40 years and this is a natural extension of that; we look forward to working closely with the city of Glendale to develop the property.”
The new center would include dozens of four- to six-story buildings, sound stages and a high-tech business center built on the 113-acre site of the former Grand Central Air Terminal.
If all goes as planned, the center would house Disney’s Imagineering and new-media divisions, as well as other computer and technology companies.
Disney’s money-saving measures include the recent sale of Fairchild Publications, cutting back on the number of on-lot production deals and the pending sale of the Anaheim Angels baseball team and the Mighty Ducks hockey team.