Originally slated for a 2020 opening, construction is finally near completion on the Caven Point Studios at Canal Crossing in Jersey City, New Jersey. The movie studio project was initially announced in Fall 2019 and will be the largest in the state.
What Are the Details of the Project?
An existing building has beed demolished and two warehouses are being redeveloped into a film and television production studio complex. The entire project is 135,000 square feet, with 70,000 of that dedicated to studio space and three sound stages.
The project’s developer and contractor is the Criterion Development Group, which purchased the 5.6-acre site for $16.75 million in March 2019. They chose to build a movie studio outside of New York City to take advantage of the New Jersey Film Tax Credit Program. They used local design firms Dresdner Robin Engineering of Jersey City and Ware Malcomb of New York City.
Why Is This Project Important?
Mayor Steven Fullop of Jersey City has said that he hopes the construction of Caven Point Studios will aid in redeveloping the city and preserving the area’s robust industrial history.
The new studio is expected to boost the local economy. The construction itself has already brought an influx of local jobs. The passing of the Garden State Film and Digital Media Jobs Act in 2018 helps developers consider projects like this throughout New Jersey to help revitalize areas that may need it. The state’s proximity to New York City makes it an ideal location for a movie studio.
Construction is expected to complete in Spring 2021.
For more information on this project and others, visit the CIS Leads website today.