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