BUFFALO, NY (WKBW) – A slice of Hollywood is coming to Buffalo, yes Buffalo.
Great Point Capital Management, a media-focused investment fund led by Robert Halmi and Fehmi Zeko, presented plans with the city to build a new state-of-the-art television and film studio complex on Niagara Street on the west side of the city.
Earlier this year, Great Point signed an agreement with Rich Holdings Inc. to purchase a construction site for the studio on land adjacent to Rich Products, the Niagara Street campus. The over $ 50 million full-service television and film production facility will include two 20,000-square-foot and 70,000-square-foot scenarios of office space and support. The developers said the studio will be built in two phases. Construction of Phase-1 is slated to begin this September with completion projected for the fall of 2021.
Fehmi Zeko, co-founder of Great Point Capital, said: “Buffalo is an ideal city for a state-of-the-art television and film complex. A combination of great locations, well-trained staff, and tremendous support from the local government has made Buffalo a desirable destination for filmmakers. With the addition of the studio, Buffalo will see activity throughout the year. “Rich Holdings Inc., a key investment partner and long-standing corporate force in Buffalo has been instrumental in bringing this opportunity to fruition.
Larry Quinn, a former local developer and former CEO of Buffalo Sabers, will coordinate and oversee all aspects of the project for Great Point. Buffalo-based architecture firm Architectural Resources is designing the studio with Krog Corporation acting as construction manager and builder. Great Point will use Buffalo subcontractors and the local workforce to complete the building.
The study is expected to be a major boost to the local economy. In addition to the many full-time and part-time jobs that will be created at the complex, films using the studio will provide food, security, cleaning staff, transportation, and housing locally.
“Buffalo continues to emerge as a film-friendly city and the construction of a major complex of film and television studios, here in our community, is a game changer for our community and a positive statement of long-term trust Great Point Capital Management and Rich Holdings, Inc. have in our city’s growing film and television industry, “said Buffalo Mayor Byron Brown. “This investment of more than $ 50 million means new employment opportunities for City residents and more business for those in the City who support Buffalo’s thriving film industry.”
This will be the second studio complex under construction for Great Point Capital. Construction of its Lionsgate studios in Yonkers, New York, resumed after a three-month hiatus at Covid-19. Great Point is in talks with numerous television companies that are considering the role of senior tenant for Buffalo Studios.
“As a New York Westerner, I am proud that Buffalo is emerging as the premier filming destination in upstate New York,” said Lt. Governor Kathy Hochul. “Incorporating this major complex of film and television studios means more jobs, more business, and more opportunities to showcase our friendly city and our unique western New York region. As we continue to contain the spread of the coronavirus, we are building simultaneously the new west York better than ever and also puts Buffalo on the map. ”
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