U.K. based media-focused investment fund Great Point Capital announced plans to build a $50 million full-service film and television studio complex on Niagara Street in Buffalo.
The project will feature two 20,000 square-foot stages, and phase one of the project is expected to be completed by fall 2021.
In Early 2020, Great Point Capital signed a deal with Rich Holdings Inc. to purchase a site for the studio on Niagara Street adjacent to the Rich Products.
Former Sabres CEO and local developer Larry Quinn will be coordinating the supervising “all aspects” of the project for Great Point Capital.
Additionally, Buffalo-based architecture firm Architectural Resources is designing the studio with Krog Corporation acting as construction manager and builder, according to Great Point.
“Buffalo continues to emerge as a film-friendly city and the building of a major film and television complex, here in our community, is a game-changer for our community and a positive statement of the long-term confidence Great Point Capital Management and Rich Holdings Inc. have in our city’s growing film and television industry,” Buffalo Mayor Byron Brown said in a statement.
Brown said the development will bring job opportunities and additional business for the city.
New York Lt. Governor Kathy Hochul said as a Western New Yorker, she is proud that Buffalo is emerging as a top destination to film in Upstate New York.
“…As we continue to contain the spread of the coronavirus, we are simultaneously building back Western New York than ever before and further putting the city of Buffalo on the map,” Hochul said in a statement.