NEWARK, N. J. (AP) — The former site of one of Newark’s oldest public housing complexes will receive a $125 million remodel and become a film and television production studio.
Anchored through global entertainment provider Lionsgate, the 12-acre facility replaces Seth Boyden’s homes in the city’s southern neighborhood, which were demolished earlier this year, Mayor Ras Baraka and Gov. Phil Murphy announced Tuesday. It is scheduled to open in 2024.
Lionsgate will offload naming rights to the studio, which will be owned and operated by Great Point Studios, co-founded by Hallmark Channel founder Robert Halmi.
Educational systems and study internships for Newark’s top schools and academics will be overseen through the New Jersey Performing Arts Center in Newark, which will also handle public affairs and networking.
Baraka called the assignment a “monumental victory for our city” that will create a host of new jobs in the region.
Last year, Murphy signed a law extending movie tax credits up to $2. 6 billion over the next thirteen years, according to analysts who are not components, as part of an effort to attract more productions to New Jersey.
The Boyden complex built in the 1930’s and for years considered one of the most damaging in the city. It remained unoccupied for several years before being demolished.