Yonkers, NY Great Point Capital Management, a media-focused investment fund run by Robert Halmi and Fehmi Zeko, has signed a letter of intent with Lionsgate to build a major new production facility, with Lionsgate becoming a long-term anchor tenant and investor in the studio complex. As anchor tenant, Lionsgate will have naming rights to the studio.
Construction on the site will start this November and the facility will be up and running in late autumn 2020.
The $100 million, full-service, modern entertainment complex will include three 20,000 s/f and two 10,000 s/f stages, a fully operational back lot and the opportunity to create a location-based entertainment property similar to what Lionsgate has already established in China and the Middle East.
A key investment partner and project developer is National Resources, who acted as the general contractor and worked with their own architectural and engineering firm on the project. The company has operated in the New York area for 30 years and has tallied $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 30 minutes from Manhattan on the Hudson River. It is situated along the newly created Saw Mill River Plaza and next to the new Yonkers train station. The dynamic growth and revitalization of the city will underpin the value of the new facility and make it the premier tri-state venue for anyone needing production facilities.
“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.”
Joseph Cotter, president of National Resources said, “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,” Robert Halmi said.
“This is a game changer for the City of Yonkers and is a testament to the ongoing revitalization of our waterfront," said mayor Mike Spano. “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.”
Adviser to the fund is London-based Great Point Media Group, a diversified media and entertainment company owned by Jim Reeve and Robert Halmi (who will also be an investor in the new studios). It has provided investment and arranged financing for more than 50 production companies, with clients including Lionsgate, Netflix, Amazon, Hulu, Google, Sky, BBC, ITV, Universal, AMC, Hallmark, Sony and Paramount.