On October 26th, 20 acres of state and municipal land was formally transferred to Connecticut Studios LLC, a partnership between California real-estate company Pacifica Ventures, and real estate developer, Halden Acquisition Group of Rhode Island. According to the Hartford Courant, Hal Katersky, the founder and CEO of Connecticut Studios LLC, along with his partner, Dana Arnold, began to arrange for approximately $65 million worth of financing for the project, which will be constructed in South Windsor, between route 291 and route 5, in the former space of a drive-in movie theater.
The ambitious project for the movie studios would provide the state with hundreds of new jobs in film production. In addition to the multi-million dollar, state-of-the-art soundstages, development plans also include a hotel and retail space. The Courant reports:
An analysis by the Connecticut Economic Resource Center Inc., a nonprofit economic research firm in Rocky Hill, has forecast that the development and construction alone would create 1,530 jobs. Over time, the studio and related economic activity would lead to more than 4,500 jobs, the analysis said.