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Steiner Studios, a Brooklyn Navy Yard film and television company, is planning a primary expansion.
Steiner signed a predevelopment agreement to build a new studio at Bush Terminal in Sunset Park, according to the Wall Street Journal. The multibillion-dollar agreement on city ownership includes a 49-year lease of land with five 10-year expanses available.
Doug Steiner, a Brooklyn-based developer and president of Steiner Studios, told the Journal, “It’s hard to place such a giant place in the city with smart roads and public transportation.”
The New York City Economic Development Corporation is redesigning the Bush Terminal as a campus for media production and apparel manufacturing, the Journal reported. It will be known as “Made in New York”. The studio will take up 525,000 feet of space.
Anne del Castillo, new York City Mayor’s media and entertainment workplace commissioner, said the biggest call for content streaming puts New York’s industry in a solid position, despite the broader economic downturn.
“We’ve heard all the time they want more area to put more systems online,” he said. “We wish we could watch television, in particular, because it’s a much more predictable form of production.”
The EDC Board of Directors will review the approval agreement next month. Although the terms have been revealed, the Journal reports that the city will dedicate $15 million to infrastructure works and progress. The deal also includes $320 million in personal investment.
[WSJ] – Sylvia Varnham O’Regan
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