TORONTO—Toronto Mayor John Tory has announced a deal with Hackman Capital Partners and its affiliate The MBS Group through which the partners will develop and operate a new purpose-built media hub on city property in Toronto’s Port Lands.
The Basin Media Hub will be a $250-million film, television and digital media development to be located on an 8.9-acre waterfront development parcel located at 29, 35 and 41 Basin St., a release stated.
The HCP-MBS proposal approved by CreateTO last month and city council in early November includes eight stages and production office space along with workshop and production support space.
The developers will also work with the city to deliver a public promenade along the water’s edge.
The partnership is expected to create 750 jobs onsite as well as 880 indirect or induced jobs in the broader community.
Construction is planned to begin on the Basin Media Hub by 2023.
Through its proposal, HCP-MBS has committed to establishing a Basin Media Hub endowment for a local training program with a $1-million initial investment and funding for a program co-ordinator. HCP-MBS will provide training space onsite and support site visits, talks and work experience opportunities for local schools to promote careers in the film industry and support training and jobs for people from equity-seeking groups.
HCP-MBS has also committed to establishing a $1-million fund to encourage Canadian content creation.