Toronto – TECHNOLOGY – Toronto is set to make a bigger move into film, television and digital media.
Mayor John Tory announced that Hackman Capital Partners (HCP) and its affiliate The MBS Group (MBS) will develop and operate the Basin Media Hub; a $250 million, purpose-built, state-of-the-art film, television and digital media hub to be located on an 8.9-acre waterfront development parcel in Toronto’s Port Lands, located at 29, 35, 41 Basin St.
The HCP-MBS proposal approved by CreateTO last month and City Council last week includes eight purpose-built sound stages, production office space, along with workshop and production support space. This $250 million investment in the development will be one of the most significant contributions to Toronto’s film and television production ecosystem in more than two decades.
In addition to providing much-needed studio and production space within the city, the proposed development will provide the opportunity for HCP-MBS to partner with the City to deliver a public promenade along the water’s edge, helping to further transform this area of the Port Lands into a healthier and more liveable space for workers and visitors alike.
The Basin Media Hub presents an important opportunity to support the ongoing development of Toronto’s film industry and the Media City District. After completion of the construction phase, the expected economic impact of on-going film studio operations includes $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 is expected to create 750 jobs on-site as well as 880 indirect or induced jobs in the broader community.
Construction is planned to begin on the Basin Media Hub by 2023.
Through its proposal, HCP-MBS has committed to establishing a Basin Media Hub endowment for a local training program with a $1 million initial investment and funding for a Program Coordinator. HCP-MBS will provide training space onsite and support site visits, talks and work experience opportunities for local schools in order to promote a diverse range of careers in the film industry and support training and jobs for people from equity-seeking groups. The training program will be managed by MBS University (MBSu), a division of MBS that has a wealth of experience in creating customized programs for hands-on practical crew training.
HCP-MBS has also committed to establishing a $1 million fund to support and encourage Canadian content creation.
The HCP-MBS partnership was selected through a competitive market offering process launched by CreateTO, on behalf of the City, in 2020 and concluded in 2021. HCP is a privately-held real estate investment and operating company that specializes in buying, renovating and re-imagining commercial, vintage industrial and studio properties. MBS is an industry-leading studio operations, production services and studio-based equipment provider.