Toronto – TECHNOLOGY – Toronto is poised to take a bigger leap in film, television and digital media.
Mayor John Tory announced that Hackman Capital Partners (HCP) and its subsidiary The MBS Group (MBS) will develop and operate the Basin Media Hub; a state-of-the-art film, television and digital media center valued at $ 250 million to be located on an 8.9-acre waterfront development parcel in the Port Lands of Toronto, at 29, 35, 41 Basin St.
The HCP-MBS proposal approved by CreateTO last month and city council last week includes eight specially designed sound stages, production offices, as well as a workshop and production support space. This $ 250 million development investment will be one of the most significant contributions to Toronto’s film and television production ecosystem in more than two decades.
In addition to providing a much-needed studio and production space in the city, the proposed development will allow HCP-MBS to partner with the city to offer a public waterfront promenade, helping to further transform this area. port. Landing in a healthier and more liveable space for workers and visitors.
The Basin Media Hub presents an important opportunity to support the continued development of the film industry in Toronto and the Media City District. After the completion of the construction phase, the expected economic impact of the film studios’ ongoing operations includes $ 280 million in economic activity, $ 119 million in net contribution to GDP and $ 32 million in tax revenues at all levels of government. The partnership should create 750 jobs locally as well as 880 indirect or induced jobs throughout the community.
Construction is expected to begin on the Basin Media Hub by 2023.
Through its proposal, HCP-MBS committed to establish a Basin Media Hub endowment for a local training program with an initial investment of $ 1 million and funding for a program coordinator. HCP-MBS will provide on-site training space and support site visits, discussions and work experience opportunities for local schools to promote a wide range of careers in the film industry and to support training and jobs for people from equity seeking groups. The training program will be managed by MBS University (MBSu), a division of MBS which has extensive experience in creating customized programs for practical crew training.
HCP-MBS has also pledged to establish a $ 1 million fund to support and encourage the creation of Canadian content.
The HCP-MBS partnership was selected as part of a competitive market offer process launched by CreateTO, on behalf of the City, in 2020 and concluded in 2021. HCP is a private investment and operating company real estate specialist in the purchase, renovation and renovation. -imagine commercial, vintage industrial and studio properties. MBS is an industry leader in studio operations, production services and a supplier of studio equipment.