British media-focused investment fund Great Point Capital has announced plans to build a $ 50 million full-service film and television studio complex on Niagara Street in Buffalo.
The project spans two phases of 20,000 square feet and phase one of the project is expected to be completed in the fall of 2021.
In early 2020, Great Point Capital closed a deal with Rich Holdings Inc. to buy a site for the studio on Niagara Street next to the Rich Products.
Former Sabers CEO and local developer Larry Quinn will coordinate supervision of “all aspects” of the Great Point Capital project.
In addition, Buffalo-based architectural firm Architectural Resources is designing the studio with Krog Corporation acting as construction manager and builder, according to Great Point.
“Buffalo continues to grow into a movie-friendly city and building a large film and television complex, here in our community, is a game changer for our community and a positive expression of the long-term confidence of Great Point Capital Management and Rich Holdings Inc . in our city’s growing film and television industry, ”said Buffalo Mayor Byron Brown in a statement.
Brown said the development will generate jobs and additional sales for the city.
New York Lt. Governor Kathy Hochul said that as a Western New Yorker, she is proud that Buffalo shows up as a top filming destination in Upstate New York.
“… As we continue to control the spread of the coronavirus, we are simultaneously rebuilding Western New York than ever before and putting the city of Buffalo further on the map,” said Hochul in a statement.