FOR THE BEST-KNOWN NAMES in Hollywood, nothing less would do. In what is likely to be the biggest land development in Los Angeles history, Dreamworks SKG--the studio-in-waiting being created by moguls Steven Spielberg, Jeffrey Katzenberg, and David Geffen--is a partner in a $5.8 billion real estate deal near Marina del Ray. The 1,100-acre spread will include a 100-acre studio for Dreamworks along with apartments, commercial space, and a marina. Eager to show it had turned an economic corner, Los Angeles granted the project $100 million in concessions.

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