Robert De Niro's $600m NYC film studio is approved for construction

Wildflower Studios in Queens, New York, headed by Robert De Niro, has received approval for construction from the Department of Buildings (DOB). 

The facility designed by Bjarke Ingels Group (BIG) also secured an equity investment from Meadow Partners, and a $600m construction loan from Silverstein Capital Partners, on the construction of the 775,042 gross sq ft building.

The building permit was granted two years after Wildflower Studios closed on its purchase of the 5.25-acre waterfront parcel for $71.6m from  Steinway, with Ares Commercial Real Estate Management providing funds of $56.5m for the land.

When completed, the site will become the first ground-up, purpose-built production soundstage in New York City and will be the first vertical film studio in the world. In addition, it is expected Wildflower Studios will create over 1,000 permanent new union jobs.

Bjarke Ingels said in a statement: "[This] complex marks a new chapter in the city’s ability to create the stories of our future."

Adam Gordon, president of Wildflower LTD, said the campus is being created with a wide array of storytelling in mind, including “streaming, AR [augmented reality], VR [virtual reality] and gaming, with a building design that looks toward the future”.