New York City Mayor Eric Adams, alongside a coalition of business owners, elected officials, and community leaders, has officially broken ground on the groundbreaking Sunset Pier 94 Studios, a state of the art film and TV campus set to grace Manhattan’s West Side. It’s anticipated to generate over 1,700 jobs, encompassing more than 1,300 construction positions, and add a staggering $6.4 billion into the local economy over the next three decades. However, what makes Sunset Pier 94 Studios truly exceptional is its commitment to the community.
This innovative endeavor is set to enhance the city’s competitiveness in the world of film and television production, positioning New York City as a formidable rival to other cinematic hubs. But it’s not just about industry success; it’s about enriching the lives of all New Yorkers. The project will bring invaluable additions to the city, including new public restrooms for Hudson River Park, a 1,850-square-foot community amenity space, 25,000 square feet of waterfront open space on the pier, and safety enhancements to the existing greenway. Moreover, the project introduces a workforce development program that will help New Yorkers secure opportunities in film, television, and media production.
Total Private Investment in the Sunset Pier 94 Studios Project
This project wouldn’t have been possible without the combined investment of approximately $350 million from industry heavyweights: Vornado, Hudson Pacific, and Blackstone. The project’s construction will benefit from $183 million in financing led by RBC, with an expected completion date set for the end of 2025.
Michael Franco, President and CFO of Vornado Realty Trust, emphasized the significance of the project, praising it as a means to create jobs and enhance the scenic beauty of the Hudson River waterfront.
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State Senator Brad Hoylman-Sigal lauded the Sunset Pier 94 Studios in Manhattan as a vital investment in New York City’s film and television industry and a boon for the iconic Hudson River Park. He expressed gratitude to the NYCEDC, Vornado Realty Trust, Hudson Pacific Properties, and Blackstone for their collaborative efforts, aiming to uplift the city’s residents with both job opportunities and park improvements.
This project’s journey was indeed lengthy and intricate, uniting major real estate and finance players in a testament to the city’s potential. Vornado Realty Trust, with the support of Blackstone and Hudson Pacific Properties, has transformed the dream of Pier 94 into a promising reality for New York City, forging a path that blends art, industry, and community welfare.
