"New York City Economic Development Corporation, New York City Industrial Development Agency and real estate investor Bungalow Projects have closed on two transactions totaling $552 million to support construction of high-end film and television production studios in Brooklyn. The sites at 176 Dikeman Street in Red Hook and 242 Seigel Street in Bushwick will be branded as Echelon Studios and, the city estimated, serve as economic and industry drivers generating 2,400 jobs between construction and operations."
"Robert De Niro's new Wildflower Studios opened in Astoria this year. Borden Studios is new in Long Island City. Steiner Studios and the New York City Economic Development Corporation broke ground on an outpost in Sunset Park, Brooklyn. East End Studios is rising in Sunnyside, Queens. Construction is underway on Sunset Pier 94 on the far West Side of midtown Manhattan. New entrants will join historic Kaufman Astoria Studios in Queens and Silvercup Studios - with its expansion Silvercup Studios East - in Long Island City, and Broadway Stages in Brooklyn."
""With the State's expanded Film Tax Credit Program fueling more production activity, Echelon Studios will be ideally positioned to capture this wave of demand while creating thousands of jobs for New Yorkers," said Bungalow Projects co-founder Travis Feehan. "New York City is ripe to grow its presence as a global production destination," added NYCEDC President & CEO Andrew Kimball."
NYCEDC, the New York City Industrial Development Agency and Bungalow Projects closed two transactions totaling $552 million to finance high-end film and television production studios in Brooklyn. The sites at 176 Dikeman Street in Red Hook and 242 Seigel Street in Bushwick will be branded Echelon Studios and are projected to generate 2,400 jobs across construction and operations. The 600,000 square feet of purpose-built stages aim to accommodate big-budget productions and address an undersupply of stages. The project follows expanded state film incentives and joins multiple other new and expanding studio developments across the city.
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