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.
Last week, media-focused investment firm Great Point Capital Management signed on entertainment company Lionsgate as its anchor tenant for a new $100 million production-studio development in Yonkers. Lionsgate will also be an investor in the project that includes five studios and a back lot near the Yonkers downtown Metro-North train station. Also a partner in the joint venture is developer National Resources.
Developer National Resources has received a $14 million construction loan for their planned residential building associated with i.Park Hudson, a mixed-use campus featuring offices, retail and apartments in downtown Yonkers. The residential building, UNO, will measure 70,000 square feet and have 96 units, according to the Commercial Observer. Located at 9 Bashford Street, the existing five-story industrial building will be converted and expanded upon by four stories (based off renderings).
National Resources has received $12.5 million in financing from CIT Real Estate Finance to begin construction of Phase II of The Pearl, on the southern end of Edgewater, New Jersey. Given what has already been built, three residential buildings of five or six stories are likely in the works; phase II will total 63 residential units, per Commercial Observer.