New York City Economic Development Corporation (NYCEDC), New York City Industrial Development Agency and Bungalow Projects closed on two transactions totaling $552 million to support the construction of two high-end film and television production studios in Brooklyn. Located at 176 Dikeman St. in Red Hook and 242 Seigel St. in Bushwick and totaling approximately 600,000 square feet, the facilities will be branded as Echelon Studios.
“As the top destination in the country for talent, and leader in innovation, New York City is ripe to grow its presence as a global production destination,” said NYCEDC president & CEO Andrew Kimball. “With workforce development and sustainability at the center of these projects, they will serve the surrounding communities and larger industry and complement our work across Brooklyn.”
The two facilities will seek LEED Gold certification and will be 100% electric, with more than 25% of electric demand expected to be supported by rooftop solar panels.
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