CreateTO, the City’s real estate agency, has retained Cushman & Wakefield as the broker of record to support the marketing of the property.
The offering is an opportunity to secure the sites at 29, 35 & 41 Basin Street, located within the Media City District, an area focused on growing Toronto’s screen-based industries within a film-friendly production environment.
“The development and creation of the Basin Media Hub is a clear indication of the strength of the film and television sector here in Toronto. Although, productions were forced to shut down during the height of the pandemic, we are confident that productions will continue to choose Toronto,” said Mayor John Tory. “This new hub will not only increase capacity in the sector and help create new employment opportunities but will further enhance the city’s ability to attract and retain production investment from around the world.”
Toronto welcomes over 1,500 productions annually and is among the top five film and television production clusters in North America. In 2019, the City attracted a record-breaking $2.2 billion in production investment that employed more than 30,000 Torontonians. Since productions resumed in July, the Toronto Film, Television and Digital Media Office has issued over 300 film permits across the city.
“Quality studio space and strategic locations in Toronto are at capacity and this Port Lands location offers prime studio and production space with immediate proximity to the downtown core as well as existing creative clusters,” said Ward 14 Toronto Danforth Councillor Paula Fletcher who chairs the City’s Film, Television and Digital Media Advisory Board. “I am excited to see the City and CreateTO taking this important step in growing this industry to ensure it remains at the forefront of global content production.”
CreateTO is seeking proponents with the vision and ability to plan, finance, develop, manage, and operate the facility. CreateTO will also evaluate proponents based on their proposed intensity of use and the number of jobs expected to be created.
Following the selection of the successful proponent, anticipated in February 2021, the approvals and construction process for the Basin Media Hub should take approximately three years to complete.
CreateTO was formed in 2018 as the City of Toronto’s new real estate agency. The organization brings together stakeholders, partners and community members to ensure the best use of the City’s real estate assets for today and tomorrow. CreateTO manages the City’s $27 billion real estate portfolio, develops City buildings and lands for municipal purposes and delivers client-focused real estate solutions – ensuring a balance of both community and economic benefits. For more information, visit www.createto.ca.
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Director, Communications and Marketing, CreateTO