Great Point Studios, Lionsgate and the New Jersey Performing Arts Center are partnering to build a $125m studio complex in Newark, New Jersey.
Spread over 12 acres, the facility will be the first purpose-built studio in New Jersey specifically constructed for TV and film production, with Lionsgate as the key tenant.
The 300,000 square-foot complex will include production stages ranging from 20,000 to 30,000 square feet, offices, support space and parking. The facility will also offer a full set of production services on site, including grip and electric, props, set building and location catering.
This forthcoming facility follows a collaboration between the partners on the recently opened Lionsgate Studios in Yonkers as demand for production space in the US continues to hot up.
The new studio is expected to be operational by late 2024 and will be located in Newark’s South Ward at the site of the former Seth Boyden Housing site, close to Newark Liberty International Airport and the Port of Newark.
“Given the rise in studio production post-Covid, we are confident that expanding our studio program into New Jersey will be a welcome addition,” said founder & CEO of Great Point Studios Robert Halmi.
Lionsgate CEO Jon Feltheimer added: “This is a great opportunity to scale our East Coast studio footprint with our partners at Great Point Studios and the New Jersey Performing Arts Center to support our robust film & television production.
“Lionsgate Studios Newark is also an important part of our commitment to diversity, equity and inclusion, enabling us to create hundreds of jobs, provide educational opportunities to local students and contribute to the economic revitalization of the South Ward of Newark.”
The facility will be owned by a joint venture between Great Point Studios and its institutional partner, an affiliate of Lindsay Goldberg, a private investment firm. Matrix Development will serve as the project developer and Gensler will handle the architecture and master planning.
The studio is anticipated to create more than 600 new long-term jobs, with priority for positions going to residents of Newark, and generate more than $800m of annual economic impact for Newark and New Jersey.