Ad
Featured
What to know about Cinelease Studios' expansion in Albuquerque
Cinelease Studios is planning to expand its footprint with five more soundstages and three ancillary buildings. The company purchased I-25 Studios in 2022.
A few takeaways from Cinelease Studios' expansion
› Known as Project Gustavo.
› Cinelease will annually provide at no cost equipment rentals to the Media Collaborative not to exceed $500,000 annually.
› The company will provide approximately $104 million in investment for new construction and to renovate buildings at 9201 Pan American Freeway NE.
› Cinelease will hire and retain at least 12 new employees and will maintain the project’s operations in Albuquerque for a minimum of 10 years.
› Construction of the new spaces is expected to create approximately 656 construction jobs sources from local labor pools, as much as possible.
› Cinelease Studios facility is located on 55.73 acres.
› The building is over 500,000 square feet and contains five soundstages.
› According to the Bernalillo County Assessor’s Office, for the tax year 2023, the assessed value of the land, including the existing facility, is $9,612,238.
› The project is in the Wildflower Area neighborhood in Albuquerque.
Ad
› There will also be no demolition of historic buildings involved in this project.
› The company is requesting $115 million in city-issued Industrial Revenue Bonds.
› The development plan includes:
• Building two construction mills at 20,000 square feet each.
• Building a Cinelease Lamp Dock at 30,000 square feet.
• Five new soundstages at 20,000 square feet each.
• Construction of a new dog park.
• Construction of an entry plaza.
