The estimated $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.
Hackman Capital Partners and its affiliate, The MBS Group, announced today that the companies were selected by the City of Toronto and CreateTO, the City’s real estate agency, to develop and operate a new, purpose-built film, television and digital-media studio complex, called Basin Media Studios.
Named after the street on which it will sit, Basin Media Studios will be located on the waterfront of the Media City district of Toronto’s Port Lands, a redevelopment zone just east of the city core that is focused on growing Toronto’s $2 billion screen-based industries. The estimated $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.
Basin Media Studios will span 8.9 acres of a publicly-owned parcel and offer eight large, state-of-the-art sound stages, production offices, production support and workshop space. The entire complex will embrace the industry’s most forward-thinking sustainability practices and eco-friendly initiatives.
“It’s a privilege to be selected as the developer and operator of Basin Media Studios,” said Michael Hackman, founder and CEO of Hackman Capital. “The City of Toronto is an economic hub for the creative economy in Canada and already a film and television production powerhouse. We’re thrilled to get this project under way, helping the city to expand its studio footprint, and supporting all who are interested in working in the screen industry.”
CreateTO, which has taken a strong leadership role in envisioning the future of the Port Lands, sought proposals for Basin Media Hub from companies around the globe in a highly competitive market offering process.
Hackman Capital Partners and The MBS Group set themselves apart from other respondents because of their innovative global platform, which includes a strong Canadian presence, visionary thinking and unparalleled, hands-on experience in both the real estate and studio services arenas.
In addition to developing and operating Basin Media Studios, Hackman Capital Partners and The MBS Group will also establish an endowment to provide employment opportunities for under-represented groups, through mentorships and training programs—as well as a fund to support and encourage indigenous Canadian content creation.
“Toronto has created a film-friendly environment that’s home to some of the best creative and physical production talent in the world. We’re excited to collaborate with local stakeholders to help provide the tools necessary to meet the growing demands of the industry,” said Jason Hariton, Chief Real Estate Officer, The MBS Group.
“In addition to its strong proposal to deliver a state-of-the-art film, television, and digital media hub – which will be one of the most significant contributions to Toronto’s film and television production ecosystem in over two decades – Hackman Capital Partners and The MBS Group have an extensive track record of successfully built and managed film studio projects internationally, including in Canada, and have committed to fostering local skill development and supporting Canadian content creation, which will benefit the industry and the broader community,”said Steven Trumper, CEO, CreateTO.|
According to a statement from CreateTO and the City of Toronto, 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, $32 million in tax revenues across all levels of government, and 750 direct jobs created on-site as well as 880 indirect or induced jobs in the broader community.
Construction is planned to begin on Basin Media Studios by 2023.
About Hackman Capital Partners and The MBS Group
Hackman Capital and The MBS Group have developed the world’s leading film and television studio platform. In addition to operating its own studio assets, the platform designs, develops and builds studios; manages studios for other studio owners; and provides global content creators with comprehensive production services and studio-based equipment rentals.
The MBS Group exclusively supports nearly 400 sound stages and more than 400 productions per year from its network of 65 locations across six countries. In Canada, the company services 18 studio lots and employs a staff of over 200 Canadians. MBS’s Canadian presence grew in January of 2021 when the company acquired SIM Lighting and SIM Studios to offer enhanced production equipment and services across Canada.
Hackman Capital Partners’ studio assets, through affiliate entities, include The Culver Studios, Television City Studios, MBS Media Campus, Silvercup Studios, Kaufman Astoria Studios, Second Line Stages, Raleigh Studios, Sony Pictures Animation Studios, Ardmore Studios, Troy Studios, Eastbrook Studios London and The Wharf London.
CreateTO was formed in 2018 as the City of Toronto’s real estate agency. The organization brings together stakeholders, partners and community members to ensure the best use of the City’s real estate assets for today and tomorrow. CreateTO manages the City’s $27 billion real estate portfolio, develops City buildings and lands for municipal purposes and delivers client focused real estate solutions—ensuring a balance of both community and economic benefits. For more information, visit CreateTO.ca.