NYCEDC and Bungalow Projects Announce the Closing of Transactions Totaling $552 Million for Two State-of-the-Art Film Studios in Red Hook and Bushwick

Projects Will Offer 600,000 Square Feet of Studio Space, Including 10 New Soundstages, Bolstering NYC’s $81.6 Billion Film and Television Industry

Facilities Will Create 2,400 Total Jobs Associated with Studio Operations and Construction

Both Studios Will be 100 Percent Electric and Will Support Local Workforce Development Programs in Collaboration with Reel Works and Hook Arts Media

BROOKLYN, NY—New York City Economic Development Corporation (NYCEDC), New York City Industrial Development Agency (NYCIDA), and Bungalow Projects today announced the closing of two transactions totaling $552 million to support the construction of two high-end film and television production studios in Brooklyn, one at 176 Dikeman Street in Red Hook, and another at 242 Seigel Street in Bushwick. The two Brooklyn studios will be branded as Echelon Studios and will serve as economic and industry drivers, generating 2,400 jobs between studio operations and construction and creating approximately 600,000 square feet of state-of-the-art facilities that will accommodate high-budget productions and fill New York City’s undersupply of purpose-built stages critical to industry growth.

Once completed, these new facilities will help New York City’s media and entertainment industry meet the demand for state-of-the-art production facilities to compete on a global scale. According to a Mayor’s Office of Media and Entertainment (MOME) study published in 2021, New York City’s film and television industry is directly responsible for more than 185,000 jobs, $18.1 billion in wages, and $81.6 billion in economic output. The film and media industry offers high-wage jobs, averaging $121,000 annually which is roughly 33 percent higher than the average city wage, as well as career pathways for workers without college degrees.

“From iconic locations to world-class studios, there's nowhere to film movies and television shows like New York City; and with these two new studios and this $500 million agreement, we'll bolster that position, create thousands of jobs, and give artists new, high-quality space,” said New York City Mayor Eric Adams. “Under our administration, we’re not only shattering records for jobs and small businesses, but doubling down on that success with investments like this one to create a city where every New Yorker can find a job and every family can thrive.”

“We are thrilled to support two Brooklyn based state-of-the-art film studios that will create thousands of jobs, grow New York City’s film and media industry, and continue to diversify New York City’s economy,” said NYCEDC President & CEO Andrew Kimball. “As the top destination in the country for talent, and leader in innovation, New York City is ripe to grow its presence as a global production destination. With workforce development and sustainability at the center of these projects, they will serve the surrounding communities and larger industry and complement our work across Brooklyn.”

^{COOKFOX Architects; rendering by DBOX}

“These transactions mark a major milestone for Brooklyn’s creative economy and strengthen New York City’s position as a global production hub,” said Susi Yu, Co-Founder of Bungalow Projects. “Made possible with the support of the NYCIDA, Echelon Studios will deliver world-class campuses that combine scale, operational efficiency, top-of-market technical specifications, and a deep commitment to community partnership.”

“With the State’s expanded Film Tax Credit Program fueling more production activity, Echelon Studios will be ideally positioned to capture this wave of demand while creating thousands of jobs for New Yorkers,” added Travis Feehan, Co-Founder of Bungalow Projects.

“The addition of Echelon Studios to NYC's studio infrastructure—combined with recent extensions to the state film tax credit, increases to our local crew base through 'Made in NY' training programs, and a 'City of Yes' attitude in terms of filming—indicate that the future is bright for our film and TV production industry,” said Commissioner of the NYC Mayor's Office of Media and Entertainment, Pat Swinney Kaufman. “The content filmed at these new studios, outside their walls, on the streets of Brooklyn, and throughout all the five boroughs, help drive global audiences to visit, work and live here, which in turn provide jobs and support local businesses.”

The two studios will feature state-of-the-art industry specifications including column-free soundstages with clear-to-grid heights of 40 feet, significant below-grade parking space, high production support-to-stage space ratios, and top-of-market electrical, HVAC, and floor load capacity. The details of each project include:

Echelon Studios Bushwick

• 135,345 square feet of land
• 355,000 square foot facility
• 6 floors
• 90,800 square feet of below-grade parking (over 230 spaces)
• 6 stages
• Designed for 3 large, high-budget film or television productions at a time

Echelon Studios Red Hook

• 85,000 square feet of land
• 246,000 square foot facility
• 6 floors
• 56,000 square feet of below grade parking (over 185 spaces)
• 4 stages
• Designed for 1-2 large, high-budget film or television productions at a time

“Red Hook has a thriving artist community that I am proud to bolster through this project, alongside EDC, NYCIDA, and Bungalow Projects,” said Council Member Alexa Aviles. “This project will bring thousands of new jobs to our city and advance NYC’s film industry. Economic development projects work best when they are well-integrated with the heart of the surrounding community. I know Red Hook’s artist communities will welcome this project and I look forward to the creation of new, secure local jobs for our nearby residents.”

“Film production and related industries that support film and media, have become an important driver of Brooklyn’s creative economy over the last two decades,” said Randy Peers, President and CEO of the Brooklyn Chamber of Commerce. “The addition of the two new Echelon Studio facilities in Red Hook and Bushwick will bring on new, state-of-the art capacity, while creating thousands of jobs for Brooklyn residents.”

“Hook Arts Media is proud to partner with Bungalow Projects to expand access to media education and career pathways for young people in Red Hook and Bushwick,” said Michelle Rivera, Executive Director, Hook Arts Media. “This collaboration allows us to connect talented young adults to the growing film and television industry while strengthening our community’s creative and economic future.”

Sustainability and workforce development will be embedded into both projects, ensuring their long-term resilience and benefit to the community. Both facilities will seek LEED Gold certification and will be 100 percent electric, with over 25 percent of electric demand expected to be supported by rooftop solar panels; will build planted rooftop terraces, enabling rainwater collection; and will work with a sustainability advisor that specializes in sustainability practices for the film and television industry.

In addition, Bungalow Projects will partner with Reel Works and Hook Arts Media to support workforce development programs in the community. Bungalow Projects will support Reel Works’ MediaMKRS Career Development program, which trains New York youth for careers in film and television production and post-production; this includes a program partnering with New York City Housing Authority (NYCHA) to recruit out-of-school, out-of-work youth. Similarly, with support from Bungalow Projects, Hook Arts Media will also develop tailored community-based media education programs targeting residents of Red Hook and Bushwick.

Echelon Studios Red Hook will build on ongoing economic and workforce development projects in the Red Hook community. Just last month, NYCEDC announced the passage of a historic vision plan to turn the Brooklyn Marine Terminal (BMT) into a modern, maritime port and create a vibrant, mixed-use community along the Brooklyn waterfront. The proposal, which is backed by $418 million in city, state, and federal investments, will transform the disinvested marine terminal into a 60-acre, all-electric maritime port that can, once again, serve as a key economic driver for the community and city.

In addition to a revitalized port, the plan will also create 6,000 new homes—including over 2,400 permanently-affordable units—as well as at least 28 acres of public space, 275,000 square feet of commercial space, 250,000 square feet of community facility space, and 275,000 square feet of light-industrial and industrial space at discounted rents. A total of 200 affordable units will be reserved on-site for NYCHA Red Hook Houses East and West residents, and 50 affordable units will be reserved for NYCHA Wyckoff and Gowanus Houses residents. Additionally, a $75 million fund to preserve or create affordable units off-site in Community Board 6 will be created, and an additional $200 million will be allocated to NYCHA Red Hook Houses East and West. The plan, which covers a total of 122 acres, will also deliver vital resiliency and infrastructure upgrades for the area while generating an estimated $18 billion in economic impact, 37,000 temporary construction jobs, and 2,000 permanent jobs.

About NYCEDC
New York City Economic Development Corporation is a mission-driven, nonprofit organization that works for a vibrant, inclusive, and globally competitive economy for all New Yorkers. We take a comprehensive approach, through four main strategies: strengthen confidence in NYC as a great place to do business; grow innovative sectors with a focus on equity; build neighborhoods as places to live, learn, work, and play; and deliver sustainable infrastructure for communities and the city's future economy. To learn more about what we do, visit us on Facebook, X, LinkedIn, and Instagram.

About NYCIDA
New York City Industrial Development Agency (NYCIDA) supports business growth, relocation, and expansion across the five boroughs by lowering the cost of capital investment. NYCIDA’s tax incentive programs bolster the local economy, create jobs for New Yorkers, and uphold the city’s position as a global business hub.

About Bungalow Projects
Based in New York City and founded in May 2023, Bungalow Projects is a full-service real estate investment and development firm pioneering the future of episodic, film, and digital content creation by constructing sustainable and cutting-edge production hubs to nurture the world’s creative visionaries. For more information, visit bungalowre.com.