Lionsgate and Great Point Capital Management, a media-oriented investment fund run by Robert Halmi and Fehmi Zeko, are teaming to build a $100 million production facility in the New York City suburb of Yonkers.
The new facility will start construction in November, with plans calling for it to be up and running by the fall of 2020. Lionsgate will be a long-term anchor tenant and investor and also will retain naming rights to the studio.
The complex will include three 20,000-square-feet and two 10,000-square-feet stages and a fully operational back lot. There will also be the opportunity to create a location-based entertainment property similar to what Lionsgate has already established in China, the Middle East and at other global sites.
New York-area film and TV production has boomed in recent years thanks to a mix of factors: ongoing state and municipal tax incentives, a growing number of sound stages; and the the rise in overall programming, especially in streaming.
National Resources has also come aboard as a key investment partner and project developer. The company has 30 years of operating experience in the New York area, developing everything from auto dealerships, warehouse facilities, municipal facilities and retail stores. National Resources will be responsible for all phases of design and construction of the studio complex.
The studio complex will be along the Hudson River in downtown Yonkers, north of Manhattan. It is situated 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,” Lionsgate CEO Jon Feltheimer said. “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.”
Joseph Cotter, President of National Resources added, “The City of Yonkers has been very supportive of Great Point Capital’s efforts regarding the studio facility. The growth and revitalization of Yonkers as well as its proximity to New York City make it an ideal location for a film studio.”
“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,” Halmi said.