NEW YORK—Lionsgate has announced that it is investing more than $100 million to build a full service, modern entertainment complex that will include three 20,000-square-feet and two 10,000-square-feet stages and a fully operational back lot in Yonkers, just north of New York. The company says the new facility will create “the opportunity to create a location-based entertainment property similar to what Lionsgate has already established in China, the Middle East and elsewhere around the world.”
Construction will start this November and the facility will 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 has tallied over $1.5 billion of redevelopment. National Resources will be responsible for all phases of design and construction of the studio complex.
The studio complex will be located less than 30 minutes from Manhattan on the Hudson River in downtown Yonkers. 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," 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."
"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," said Robert Halmi, head of the investment fund.
Tom has covered the broadcast technology market for the past 25 years, including three years handling member communications for the National Association of Broadcasters followed by a year as editor of Video Technology News and DTV Business executive newsletters for Phillips Publishing. In 1999 he launched digitalbroadcasting.com for internet B2B portal Verticalnet. He is also a charter member of the CTA's Academy of Digital TV Pioneers. Since 2001, he has been editor-in-chief of TV Tech (www.tvtech.com), the leading source of news and information on broadcast and related media technology and is a frequent contributor and moderator to the brand’s Tech Leadership events.
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