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**Brooklyn Film & TV Studio Developments Secure $552 Million in Financing**
The New York City Economic Development Corporation (NYCEDC), along with the New York City Industrial Development Agency and Bungalow Projects, has closed on two major transactions totaling $552 million. The funding will support the development of two state-of-the-art film and television production studios in Brooklyn.
The new facilities, collectively branded as Echelon Studios, will be located at 176 Dikeman Street in Red Hook and 242 Seigel Street in Bushwick. Together, the studios will span approximately 600,000 square feet, positioning Brooklyn as a growing hub for media production.
“As the top destination in the country for talent, and leader in innovation, New York City is ripe to grow its presence as a global production destination,” said NYCEDC President and CEO Andrew Kimball. “With workforce development and sustainability at the center of these projects, they will serve the surrounding communities and larger industry and complement our work across Brooklyn.”
Both studio locations are designed with a strong commitment to environmental sustainability. They aim to achieve LEED Gold certification and will operate with 100% electric energy. Over 25% of the studios’ electric demands are expected to be powered by rooftop solar panels.
The developments mark a significant step forward for New York City’s film and television production industry and reaffirm Brooklyn’s role in shaping the future of media and entertainment.
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