Crain’s Detroit Business reported recently that land purchase transactions have been finalized on the Allen Park site targeted to house a major movie studio. "The project is expected to employ 3,000 skilled workers and 83 management positions," Crain's reports.In tandem with this, educational institutions such as Oakland Community College and others are providing a host of classes and programs that can fast track prosepctive film industry workers to being eligible for such positions once they become available.
Allen Park Closes on Purchase of Land for Movie Studio Project
By Daniel Duggan
The city of Allen Park has closed on the purchase of 104 acres of land to be used for a movie studio project.
According to a press release issued today by the city, the deal was financed with $28.3 million in private and public funding.
“While this project has not moved as quickly as we had initially planned for a variety of reasons, it is moving forward, and the city’s objectives remain unchanged,” said Allen Park Mayor Gary Burtka in a press release.
“Certainly the financial market, regional economic conditions and discussion in Lansing about making legislative changes to the film credit were key factors in the delay to name a few.”
Unity Studios is majority owned and operated by a group of investors from Los Angeles and Michigan, including Hollywood executive Jimmy Lifton. Originally from Southfield, Lifton has been in the entertainment business for 30 years.
In April, the Michigan Economic Growth Authority board approved a high-technology tax credit worth $2.8 million over 12 years for the project.
The 750,000-square-foot production facility will also include the full spectrum of production, post-production and related filmmaking infrastructure.
Part of it will be built on the 630,000-square-foot office and engineering center at 16630 Southfield Road, adjacent to Allen Park’s city hall. The property was formerly the Visteon Technical Center.
The project is expected to employ 3,000 skilled workers and 83 management positions.
Although the project “broke ground” in August, the land sale was just announced today.
The land purchase will be financed with $25.3 million in general obligation bonds purchased by Pittsburgh-based PNC Financial Services Group with an additional $3 million issued in Wayne County Recovery Zone Bonds. The property was purchased from Allen Park-based Danou Enterprises L.L.C. owned by developer Samir Danou.
Also, it was announced that Southfield-based Redico L.L.C. will have oversight responsibility for the day-to-day maintenance of the buildings, lots and landscaping, and management of leases. The firm will implement the development’s master plan and attract additional tenants.
“Unity Studios along with the other existing tenants is obviously the centerpiece of this development, but our goal is to attract a number of other strategically targeted businesses to the site to create a world class entertainment industry complex,” Burtka said.
Source: http://www.crainsdetroit.com/article/20091113/FREE/911139982/-1#
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