TORONTO — Cinespace Studios announced today the expansion of its Marine Terminal Studio Hub with the signing of a second long-term lease with PortsToronto.
Cinespace will redevelop PortsToronto’s Marine Terminal 52 building to “create three production stages and support spaces totaling 130,000 square feet to welcome world-class productions in 2023,” reads a Cinespace press release.
Gensler, a global architecture, design and planning firm, has been selected to design the new studio. (Pictured above is an artist rendering of the proposed Marine Terminal 52 studio facility.)
Cinespace has entered into a 30-year lease for Marine Terminal 52, according to a press release from PortsToronto, which notes “[t]he lease comes after a 2018 review to determine how PortsToronto’s Marine Terminals property could evolve into a more diversified employment district.”
The lease “is the culmination of a process that began with a public Request for Expressions of Interest (RFEOI) process completed in 2020, and a subsequent Request for Proposal (RFP) process conducted among qualified respondents in 2020/2021,” the PortsToronto release adds.
“Cinespace similarly renovated Marine Terminal 51 four years ago and has since developed that building into a hub for Netflix productions in Canada,” the release says. “Cinespace’s new development will support the fast-growing sector by attracting major productions and creating more than 300 new jobs at the site, and service the $2.88B industry that generates more than 48,000 jobs per year in Ontario.”
Cinespace’s Marine Terminal 51 production facility was recently home to Guillermo Del Toro’s Nightmare Alley, according to Cinespace’s release.
“We are proud to continue our investment in Toronto that started over 30 years ago. It’s a privilege to partner with PortsToronto again and be selected to develop Terminal 52 into a second facility that will meet the increased demand for production infrastructure,” said Ashley Rice, president and co-managing partner of Cinespace Studios, in the release.
“The Marine Terminal Studio Hub is an integral part of the Port Lands’ revitalization and its future as a creative center for the city and the province,” Rice added.
“The film and television production industry in Toronto is important to the local economy, the creation of jobs, and the culture of our city,” said Toronto mayor John Tory. “I am pleased that PortsToronto and Cinespace will be expanding their already successful infrastructure in the Port Lands by creating a second studio space for productions to use.
“Toronto’s screen industries have experienced a period of significant growth and investment over the last decade, and we know that there has been a real need for even more studio space. This project will not only help us attract more projects and more people to our city but as a result add more jobs which is good for our city and good for the economy,” Tory said.
As part of the lease agreement, Cinespace will introduce public realm benefits such as streetscape enhancements, landscaping, environmental improvements and sustainability initiatives, including an improved storm-water management system, according to PortsToronto’s press release.
Artist rendering provided by Cinespace Studios courtesy of Gensler.
