Real estate firm Hackman Capital Partners plans to build a major film and television production studio complex on the grounds of Downsview Airport in northwest Toronto.
A Memorandum of Understanding has been signed between the Public Sector Pension Investment Board (PSP Investments), one of the largest pension investment managers in Canada, and HCP for a ground lease long term for the construction of the studios.
Located in Toronto’s North York district, the site spans approximately 370 acres and will feature sound stages ranging from 20,000 square feet to 80,000 square feet.
Ideally, it is surrounded by world-class research and innovation centers and benefits from proximity and connectivity to public transport and highways.
“We are proud to continue our partnership with PSP Investments as we expand our presence in Canada; this new state-of-the-art film and television production facility will create thousands of new direct and indirect jobs with an investment of approximately C $ 200 million, “said Michael Hackman, CEO of Hackman Capital Partners.
“Subject to city officials’ approval, our long-term plan calls for over one million square feet of production and support space, with sound stages ranging from 20,000 square feet to 80,000 feet. squares, with the aim of creating jobs and strengthening local and domestic creativity. investments in the sector while reaffirming the city’s stature as one of the world’s leading destinations for film and television production. “
PSP formed a joint venture in 2019 with HCP, Square Mile Capital Management, USAA and Teacher Retirement System of Texas for an investment in the new campus developed by Amazon Studios in Culver City, California, and the MBS Media Campus in Manhattan Beach, in California. The partnership also acquired a minority stake in Television City Studios in Los Angeles and invested in The MBS Group, the largest provider of studio equipment and production in North America and the UK.