A groundbreaking ceremony has been held for Regal Mile Studios in Chicago’s South Side, a 380,000 sq ft project spread across a seven-acre media campus and sound stage, with a construction value of around $100m.
Aside from the film-making facilities, the development will also contain a gym, recreation space and hospitality areas.
The project, which is being financed by the real estate arm of America’s Loop Capital, is expected to complete next year.
Lori Lightfoot, Chicago’s mayor, said: “I am thrilled that this project not only puts community voices front and centre, but also enhances Chicago’s presence in the entertainment industry. Ultimately, this development will support our South Side residents and contribute to our prosperous, post-pandemic recovery.”
Joseph Dabbah, a general partner in the development, added: “We are excited to cultivate something meaningful here. This is a continuation of our commitment to civic revitalisation.
“It is especially exciting for me to be part of a team that brings something fresh and new to the city of Chicago, and in particular to this South Side community.”