New $100m studio to be built in New York

Construction on a major new $100m + full-service production facility in Yonkers, New York is due to begin in November, confirmed Lionsgate, who will be an anchor tenant and investor in the studio complex.

London-based media-focused investment firm Great Point Capital Management has signed a letter of intent with Lionsgate to build the entertainment complex, which will include three 20,000-square feet and two 10,000-square feet stages and a fully operational backlot.

The turnaround is impressively quick with the facility due to be up and running in late autumn 2020.

A key investment partner and project developer is National Resources, which has operated in the New York area for 30 years and will be responsible for all phases of design and construction of the studio complex.

Lionsgate has naming rights on the studio, which will be located less than 30 minutes from Manhattan on the Hudson River in downtown Yonkers, along the newly created Saw Mill River Plaza and next to the new Yonkers train station.

"We're pleased to partner with the Great Point and National Resources teams on a modern film and television production complex that will provide a great home for many of our content creation initiatives," said Lionsgate CEO Jon Feltheimer.  "It's rare to find a studio facility in such a prime New York metropolitan area location, and we look forward to being at the center of film and television production growth in the region."

Great Point Media Group, owned by Jim Reeve and Robert Halmi, will also be an investor in the new studios and has provided investment and arranged financing for more than 50 production companies, with clients including Lionsgate, Netflix, Amazon, Hulu, Google, Sky, BBC, ITV, and Universal. 

Halmi added: "Given the dramatic rise in television production and the shortage of studio facilities in the New York area, a new, best-in-class production facility is an ideal investment for Great Point Capital.  We are very proud that Lionsgate shares our vision and has come on board with our project.”