Wallflower Studios. Credit: Courtesy of Bjarke Ingels Group
Wildflower Studios in Queens, New York, led by Robert De Niro, received approval for construction from the Department of Buildings (DOB).
The Bjarke Ingels Group (BIG) designed facility also secured an equity investment from Meadow Partners and a $600 million construction loan from Silverstein Capital Partners to construct the 775,042 gross square foot building.
The building permit was granted two years after the closing of Wildflower Studios’ purchase of the 5.25-acre waterfront parcel for $71.6 million from Steinway, with Ares Commercial Real Estate Management providing funds of $56.5 million for the land.
When completed, the site will become New York’s first purpose-built production soundstage and will be the world’s first vertical film studio. Additionally, Wildflower Studios is expected to create more than 1,000 new permanent union jobs.
Bjarke Ingels said in a statement:[This] marks a new chapter in the city’s ability to create the stories of our future.”
Adam Gordon, chairman of Wildflower LTD, said the campus is being created with a wide range of storytelling in mind, including “streaming, AR [augmented reality]virtual reality [virtual reality] and games, with a future-oriented building design”.