A joint venture between builder Hudson Pacific Properties Inc. and investment firm Blackstone will create the 240,000-square-foot Sunset Glenoaks Studios movie and television production facility in Sun Valley by the third quarter of 2023, according to a statement from the developers.The movie production campus will cost between $170 million and $190 million. It will feature seven soundstages on a 10-acre parcel at 11070 W. Peoria St. near Glenoaks Boulevard in an industrial section of Sun Valley.The fully entitled project will include soundstages with 35- or 40-foot clear heights, 120,000 square feet of support space, offices with hillside views, a mill with set- and prop-building areas, and a 450-vehicle parking lot. A power grid managing high-end LED lighting and high-speed fiber connectivity will allow productions to send high-resolution video from cameras to on-site editing suites.The developers — who in recent years have purchased and upgraded legacy facilities Sunset Gower Studios, Sunset Bronson Studios and Sunset Las Palmas Studios in Hollywood — are addressing the ramped-up demand for entertainment content created by the increasingly crowded field of Netflix Inc.-led streaming channels, which now include Walt Disney Co.’s Disney Plus and Hulu, Warner Bros.’ HBO Max and NBCUniversal’s Peacock.The Sun Valley location is poised to capitalize on its close proximity to Burbank, home of various movie studios and production companies.“Sunset Glenoaks is a perfect example of our long-term strategy with Blackstone to buy and transform existing facilities and to build new, state-of-the-art studios within Los Angeles and other high-priority production markets we’ve identified for expansion,” said Victor Coleman, chief executive of Hudson Pacific, in a statement. “We are leveraging our development and studio operations expertise to further expand Sunset Studios’ facilities here in Los Angeles, where demand from leading content creators for top-notch, fully integrated sound stages and support space continues to significantly outpace supply.”Construction on Sunset Glenoaks has been set to finish by year’s end. With the completion of Sunset Glenoaks, Hudson Pacific and Blackstone will own a total of 42 soundstages with plans to continue expanding elsewhere in Los Angeles as well as in cities such as New York, Vancouver and London.