Multimillion-Dollar Movie Studio Planned For Atlanta Posted: 5:14 pm EDT May 12, 2010 Updated: 6:45 pm EDT May 12, 2010 ATLANTA -
Screen Gems currently has a studio in based in Wilmington, N.C. The Atlanta City Council finance committee approved the deal Wednesday. It now goes to the full city council for a vote on Monday. Among the benefits, the city would get rental income from the deal and millions would be invested into the old fairgrounds. It would also help put Atlanta on the map for moviemakers. Channel 2 has learned that Screen Gems has agreed to terms of an offer. It's ready to lease the fairgrounds for $250,000 a year to start, and make an initial $6 million investment -- replacing old metal sheds that are currently on the property with a Hollywood-type soundstage to make movies and rebuilding much of the infrastructure on 30 acres of land. "We think it's a very favorable deal ... we think it's important for the city of Atlanta to have these new economic development opportunities,
The Lakewood Fairgrounds property is very marketable because there is plenty of parking and it is about four miles from Hartsfield-Jackson International Airport and downtown Atlanta. Visitors also have easy access to Interstates 75/85.
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