Toronto is building a $ 250 million studio / largest in the last 2 decades
Toronto intends to become more and more one of the main centers of film and series production in North America.
Theater News Base: Hackman Capital Partners and MBI Group plan to build a massive $ 250 million studio complex in Toronto, the largest investment in the film industry in more than two decades.
The Basin Media Hub will be located in the Port Lands waterfront area of the provincial capital. The studio provides more than 152,000 square meters of space for the production of films, serials and digital content, which includes eight sound recording scenes as well as workshop and office spaces. Also, a paved sidewalk is built to beautify the outdoor space.
The industry needs a media hub, given that the value of production projects in Toronto is set to reach record highs in 2022 and surpass the record of $ 2.2 billion in 2019, said Paula Fletcher, chair of the city’s film and television media advisory board. It is first class to meet the growing demand for space as well as Toronto’s talent.
He stressed that the new hub will not only be a collection of buildings, but also aims to provide work experience and opportunities to train new talent.
The two start-up companies have spent $ 1 million to launch a training program. The ombudsman’s campus, which has the experience of creating dedicated talent training programs, also creates a special new work environment and work experience for students in local schools.
The Toronto Real Estate and its city council approved the offer to build the studio, and Mayor John Tori finally announced the finalization of the contract.
Tori said the hub would increase Toronto’s supply capacity, create new jobs and attract more capital to the city from around the world.
Toronto is the fourth largest city in North America with a population of nearly 3 million. The city has become one of the established destinations for film and series production, and well-known production projects include Bebin, Shitz Creek, Gambi Wazir and Jack Reacher.
Netflix also announced this year that it plans to open a new headquarters in Canada and hopes to produce more content there.