French financer Arpad (Arki) Busson is developing a 140,000 sqm studios on the waterfront in Bayonne, New Jersey.
Called 1888 Studios (the year in which Thomas Edison came up with the motion picture camera), the facilities are to be completed in 2026 and will include 17 buildings and 23 soundstages.
Financial partners include Moore Capital, the Rothschild family, Blackstone, and Vornado Realty Trust. Busson, who has invested $100 million out of a total investment for the project of $1.2 billion, is also a film producer (credits include Francis Ford Coppola’s 2012 film On the Road).
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This is a nice boost for Bayonne’s economy, will there be a share of the jobs for people who live in Bayonne. I hope this works well for our city, all around.