Movie Studio To Build $11.5 Million Complex In Miami

EUE/Screen Gems finalized an $11.5 million deal with Miami’s Omni Community Redevelopment Agency to open a movie and television production studio in downtown Miami.
The studio, which operates production facilities in New York, Atlanta and Wilmington, N.C., will develop a Miami Entertainment Complex in a 71,000-square-foot space at 50 NW 14th St.
The agency said it will use property taxes to reimburse EUE/Scree Gems up to $11.5 million in development costs. Construction is expected to take about 15 months, after which EUE/Screen Gems will lease the complex for 10 years with an option to renew in nine years. The annual lease will be $100,000 plus an 11 percent revenue share.
 
Source:  SFBJ