Just catching up to last Friday's Variety story on the Academy of Motion Picture Arts and Sciences deciding where it wants to build a movie museum. Steve Rosen reports the academy has chosen a location next to its Pickford Center, south of the Arclight's parking structure. The two blocks are bounded by DeLongpre Avenue, Fountain Avenue, Vine and Ivar streets and Cahuenga Boulevard.
The Academy already owns some of the needed land, but must acquire five parcels on the northern part of the site, some of which are now occupied by a Kentucky Fried Chicken franchise and a Big Lots! store.
It is envisioning a museum that would occupy 75,000 square feet of space and cost roughly $200 million to build. There is a 2008 target date to start construction.