The McDonald's is on the southeast corner so don't believe everything you read in that reply! And he didn't tell you WHICH direction to actually look to see the new UCBTLA Training Center once you're AT the McDonald's! Damn you, Mr. Regal!
There are three other directions you could look once you're there: North, towards the Starbucks; Northwest, towards where the OSH used to be ("For Lease" in the picture below) which is now under construction; or West, toward MORE massive construction where there used to be a weird grocery store or Food 4 Less.
I've driven by there a bunch of times, but I haven't stopped, so I don't know for SURE, but I was guessing it was the Northwest corner. But I think I'm wrong because I've never seen the UCB sign everyone says you're supposed to be able to see. But I almost NEVER drive near that intersection so don't take my word for it. I go around it, too busy.
I've heard ALL the classes will be in there, AND all the student shows will be in there, they're gonna call it UCB Sunset. The current theater will stay open and have all the usual shows and they're gonna call that UCB Franklin. If you moved in between those two spots you could easily walk to either one. Me, I live right behind UCB Franklin, so I could do the long walk, maybe a mile, not a big deal, and there's also a local 50 cent local neighborhood bus called the DASH that goes down Franklin and would take you within one New York Avenue type block from UCB Franklin. But that stops running after around 7 or 8. There's another bus that runs down Sunset that runs later. You could get the NextBus app on your phone and it tells you EXACTLY when the next bus will arrive because they all have GPS on them now. But the bus here is not really fun.
The new place is also RIGHT AT the Red Line metro train stop, so you'd have good access if you lived anywhere near a Red Line stop, even North Hollywood where it's way cheaper, but I wouldn't wanna live that far. But someone coming from North Hollywood on the train would probably beat me there if I walked and they took the train. Good luck! If you need neighborhood advice, post on here! I wish I was going to New York!!!
Also, I don't have time now to post more maps because my mom came to town for my show and I have to go meet her, but if you wanna research distances and compare, I routinely easily walk from UCB Franklin to iO West on Hollywood Blvd and it takes me 15 minutes, and I walk from UCB Franklin to Second City a little further down and it takes me 20 minutes...https://email@example.com ... e0!6m1!1e1