Posted 29 September, 2007 in NM News
New Mexico heating up
Albuquerque Studios phase one completion slated early ‘07
Some studios look better on the architectural drawing board. Just ask Hal Katersky, chairman and chief financial officer of Pacifica Ventures, which will own and operate New Mexico’s Albuquerque Studios, a new facility skedded for phase one completion early next year.”There are lots of announcements, but few materialize,” said Katersky, whose Pacifica Ventures also owns and operates Culver Studios.
Albuquerque Studios, originally planned for the city’s historic railyard, ran into environmental issues and difficulties surrounding the demolition of buildings on the site.
“It was beautiful, but costly,” said Nick Smerigan, VP of Albuquerque Studios.
According to Katersky, support from New Mexico’s state and city government, in addition to its unique incentives, allowed the project to remain viable and relocate to Mesa Del Sol, five minutes south of Albuquerque Intl. Sunport.
“It’s the finest incentive package in the U.S….a rebate, not a credit,” said Smerigan. “You actually get a 25% return on what’s spent in 45-60 days. Their film financing program lends up to $15 million with a four-year interest-free loan if your film has a million-dollar budget. It makes sense for production in the state.”
Phase one of the $74 million, 28-acre studio complex will consist of eight soundstages (four 24,000 square-foot stages with 55 feet of clear height and four 18,000 square-foot stages with 45 feet of clear height), office space, backlot, mill storage and set construction space, post-production suites, production support services and retail space. The first two of the 24,000 square-foot stages are slated to open in January, with additional stages opening every three weeks thereafter. Phase one completion is slated for spring.
Recounting his decision to build Albuquerque Studios, Katersky said, “It’s the incentive program to begin with, and the fact that Albuquerque is only an hour and a half from Los Angeles.” The state, he said, “wants this kind of business and is aggressive about this kind of business — makes it a good environment for everyone.”
Phase two plans consist of an additional 28 acres to be developed for production and post-production use, eventually creating a 54-acre production campus.
“We’ll have the ability, because of the interior wall system we’re using, to open the soundstages into 48,000 square-foot and 36,000 square-foot stages,” added Smerigan. “Every conceivable production that could be done on a soundstage in L.A. could be done here.”
Pacifica has engaged Build New Mexico as the developer for Albuquerque Studios, with Amalgamated Bank of Washington D. C. and Commonwealth Realty Advisors Inc. of Chicago as its partners in construction funding.
Film production for the state has generated over $650 million since 2003, when Gov. Bill Richardson took office. Recent pics include “Little Miss Sunshine,” “Into the West,” “The Longest Yard” and “The Missing.”
* * *
Tyler Perry is expanding on his production capital to launch his 60,000 square-foot Atlanta-based Tyler Perry Studios (TPS). The facility, formerly Atlanta Stage Works, was purchased solely by Perry in June 2006 for $7 million and is the first film studio of its size in Georgia.
“TPS will establish a footprint for increased production of film, television and theater projects in this city,” said the multihyphenate. “I hope this is just the start of making Atlanta even more of a movie town.”
Scenes from Perry’s upcoming “Daddy’s Little Girls,” due out in February, were being shot during renovations and 100 episodes of his syndicated sitcom “House of Payne,” as well as his next two feature pics, are skedded to shoot at the studio.
While plans for TPS’ three-acre site include an acting school and theater company, Perry has also purchased additional land to build a more permanent studio in two or three years at another Atlanta location.
“In the first six months of 2006, the film and video industry has had an economic impact of over $200 million to the City of Atlanta,” said Mayor Shirley Franklin. “Through the establishment of Tyler Perry Studios, the city will be an even more viable location for this industry. As a producer-director and actor, Tyler has been one of the leading forces in encouraging film and video production in Atlanta.”
Read the full article at:
http://www.variety.com/article/VR1117950275.html
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