BURNABY, B.C. – A massive film production facility project moved a step closer to construction this month after Burnaby officials reached a land sale agreement.
The city has agreed to sell a parcel of land to Larco Investments Ltd. to develop a state-of-the-art 300,000-square-foot film studio at 3990 Marine Way.
“When we raised the possibility of selling this parcel of city-owned land, we made it clear that our priority was to find a partner committed to putting down roots in Burnaby and creating jobs in our city,” said Mayor Mike Hurley in a statement. “Larco has a track record of creating industry-leading studio space and this project promises to support more than a thousand well-paying jobs in our community.”
In response to a Request for Offers, Larco agreed to pay the city $136 million for the 17-acre property, together with the adjacent road allowance, located near the Riverway Golf Course in Burnaby’s Big Bend neighbourhood.
Larco’s proposed production facility would include:
- 16 sound stages, comprising over 300,000 square feet of studio space;
- several mill shops onsite;
- three storeys of office space; and
- landscape improvements and enhancements to the riparian areas near Kaymar Creek and Glenlyon Creek.
Larco Investments is no stranger to developing film production facilities. It has owned and operated Bridge Studios since 2007 and has other studio sites in Burnaby currently in development at Lake City Way and at Griffiths Drive. A number of Hollywood films and shows have been filmed at Bridge Studios, including Tomorrowland and ABC’s The Good Doctor.
“With the addition of the development of the Marine Way site to our studio portfolio including Bridge, Griffiths, and Lake City, we are excited to become the largest studio operator in B.C. with 55 state-of-the-art custom-built sound stages as well as associated studio facilities and services for top production companies and content providers,” said Mansoor Lalji, principal of Larco Investments. “We look forward to continuing to grow this important industry for Burnaby and B.C.”
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