Construction is planned to start by 2023 on 8.9 acres of a publicly-owned parcel on the waterfront of the Media City district of Toronto’s Port Lands, a redevelopment zone focused on growing Toronto’s $2 billion screen-based industries
on the waterfront of the Media City district of Toronto’s Port Lands, a redevelopment zone focused on growing Toronto’s $2 billion screen-based industries. Iestimated $250 million investment will be one of the most significant to Toronto’s film and television production ecosystem in over two decades, the city said. The rise of streaming has triggered a sharp uptick in demand for studio space.
Hackman was in early and and has been by far the most aggressive in buying or building production studios. Last week, in partnership with New York’s Square Mile Capital, it acquired NYC’s iconic Kaufman Astoria Studios in Queens, the 1920s site that was the original home of Paramount Pictures. That deal came a year after it acquired Silvercup Studios in Long Island City and the Bronx.
Hackman’s next deal may be for the CBS Studio Center in LA. The firm declined to comment but is said to have presented the winning bid for the historic real estate being auctioned off by ViacomCBS.What We Do in The Shadows, The Queen’s Gambit, Jack Reache— the city’s real estate agency CreateTO said it had sought proposals for Basin Media Hub from companies around the globe in a highly competitive market offering process.
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