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It has been announced by the City of Toronto that Hackman Capital Partners (HCP) and its affiliate The MBS Group (MBS) will partner with the City and CreateTO to develop and operate the Basin Media Hub which is to be located on an 8.9 acre piece of land on the waterfront in Toronto’s Port Lands, located at 29, 35, 41 Basin Street.
The Basin Media Hub will be a $250 million, purpose-built, state-of-the-art film, television, and digital media centre. The development will consist of eight purpose-built sound stages, production office space, and workshop and production support space. The $250 million that is being invested in the development will be one of the most significant contributions to Toronto’s film and television production in over twenty years.
“CreateTO implemented a multi-stage offering process to select the proponent for the Basin Media Hub and the proposal submitted by Hackman Capital Partners and The MBS Group represents a tremendous opportunity for the City," said Steven Trumper, CEO of CreateTO. "The development of this studio complex signifies a major step forward in the continued revitalization of the Port Lands and is the kind of city building CreateTO is mandated to do. This is an exciting addition to Toronto’s east end and I look forward to its completion.”
All of the images supplied with the press release are credited to Skidmore, Owings & Merrill (SOM), a global architectural firm headquartered in Chicago. In addition to the studio and production space, a public promenade along the water’s edge has also been proposed as part of the greater development, which will play a role in further transforming the area of the Port Lands into a more liveable space.
“The development of the Basin Media Hub in the heart of the Media City District will help us increase production capacity in the film, television and digital media sector, create new jobs and employment training opportunities and further enhance our ability to attract and retain production investment from around the world," said Mayor John Tory. "This is a major investment in the future of Toronto’s screen industry and I look forward to seeing this $250 million project get underway – it will help ensure that our city comes back stronger than ever.”
The expected economic impact is expected to be great, and is projected to produce $280 million in economic activity, $119 million in net contribution to GDP, and $32 million in tax revenues across all levels of government. The partnership of the City with HCP and MBS is also expected to create 750 jobs on-site, as well as 880 indirect jobs in the community.
Construction is planned to start at the site of the Basin Media Hub in 2023.
You can learn more from our Database file for the project, linked below. If you'd like, you can join in on the conversation in the associated Project Forum thread, or leave a comment in the space provided on this page.
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