Los Angeles has been the home of Universal for nearly 100 years and The Evolution Plan is our commitment to our community, to our neighbors and to our businesses. We have gathered feedback from thousands of members of our community, including our elected officials. And, after taking a hard look at the project, the current real estate market, our business needs and the needs of our surrounding communities, we believe it’s best to ask the City and County to focus on our 20-year plan without any residential development and to retain our backlot for production.
This is the right time in the process to make this decision and it will enable us to concentrate and invest in our core businesses — television and film production, Universal Studios Hollywood Theme Park and CityWalk. Planning for our future in a way that is responsive to the community has always been a priority of the Evolution Plan. Today marks the next step in making this important project a reality.