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HomeNewsElectric Owl Studios to be developed in Stone Mountain

Electric Owl Studios to be developed in Stone Mountain

Construction will soon begin on a 300,000 square foot film studio, named the Electric Owl Studios. The developers, Capstone South Properties and Domain Capital Group, settled on building the new studio on a 17-acre site in Stone Mountain, located about 15 miles east of downtown adjacent to Interstate 285.

Cofounders Michael Hahn, CEO of Capstone South Properties, and Dan Rosenfelt are bringing their combined experience in real estate and the film industry to Electric Owl Studios. Capstone is leading development of the studio, with Domain Capital serving as the capital partner.

The first phase of the Electric Owl Studios project will focus on developing this 300,000 square foot film studio, which consists of six stages and has an environmentally sufficient and sustainable design. Electric Owl was designed with the aim of becoming the first LEED Gold-certified studio in the world, and development plans for the facility include the use of efficient insulation, EV charging stations and LED lighting to reduce the studio’s carbon footprint; on completion, over 30% of studio’s power will be generated from renewable sources. According to Rosenfelt, the Electric Owl is aimed at meeting the rising demand of the movie industry in Georgia, while also setting a new standard for sustainability as the ‘greenest studio on earth’.

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New Electric Owl Studios project property tax reduction

Construction and land costs for the Electric Owl Studios project have been offset by  a $3 million reduction in property taxes, which was approved by the Decide DeKalb board. The Vice President of Economic Development for Decide DeKalb, Decide DeKalb said, Electric Owl will receive a $3 million reduction in property taxes out of a projected $5.4 million within a 10-year period.

Mereda Davis Johnson, the District 5 Commissioner, referred to Electric Owl Studios as a prime project and also described the site as a prime location which had been neglected for years in Dekalb. He mentioned that this development demonstrates what incentives can do to bring in more investments and enhance deprived communities. Other leaders have also praised the project’s site for it’s seamless transit access, as the Atlanta’s airport is less than half an hour’s drive away.

The development team working on the Electric Owl Studios project include Epsten Group, serving as sustainability consultants; Cherry Street Energy, in charge of providing solar initiatives; and the developers, Capstone South Properties and Domain Capital Group. Construction on the studio is expected to be completed by January 2023.

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