According to reports, Lionsgate is set to invest in New York’s film industry with a $100 million motion picture studio complex in Yonkers. Construction on the site is set for 1 Larkin Plaza near the Hudson River will start in November and be up and running by late Autom 2020. The entertainment complex will include five sound stages, three 20,000 square-foot and two 10,000 square foot stages, along with a fully operational backlot.
“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,” Lionsgate CEO Jon Feitheimer told USA Today.
Lionsgate will have naming rights to the studio and the studio complex will be located less than 30 minutes from Manhattan on the Hudson River next to the new Yonkers train station.
Yonkers Mayor Mike Spano called the studio complex is a “game-changer” for the city.
“Yonkers already hosts dozens of on-location shoots every year with film days tripling over the last five years, so building a permanent sound stage here makes perfect sense. We are thrilled to have Lionsgate partner with Great Point Capital Management and National Resources to make this happen.”
Lionsgate’s production facility is a new joint-venture with Great Point Capital Management and real estate investment firm National Resources. Great point is an entertainment investment fund with investments and financing for more than 50 production companies. Their clients include Lionsgate, Netflix, Amazon, Hulu, Google, Sky, and BBC.
Lionsgate Films is an American film production and film distribution studio, headquartered in Santa Monica and founded in Canada, and is the flagship division of Lionsgate Entertainment. It is the largest and most successful mini-major film studio in North America.
It focuses on foreign and independent films and has distributed various commercially successful film series, including The Hunger Games, Rambo, Divergent, The Punisher, and John Wick.