The Lionsgate Motion Picture Group will soon debut a new studio complex in Yonkers following the approval of a major financing package from the city’s development agency. The project is expected to create up to 420 permanent jobs as well as 400 construction jobs.
Located near 1 Larkin Plaza, the development spans 109,000 square feet and will replace an existing parking lot. The actual building will support 70,000 square feet of studio space and 38,600 square feet of ancillary spaces.
In addition to the hundreds of jobs the project will create, the Yonkers Industrial Development Agency estimates $65 million dollars in annual revenue for the city based on the anticipation of new businesses that will relocate to service the studios.
The development and investment team includes Great Point Capital Management and National Resources.
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Great news for Yonkers!
Indeed!