TORONTO — Bidders in the contest for the contract to develop Toronto’s C$150 million ($110 million) movie studio complex have been whittled down to two consortia.
Toronto Film Studios with parent company the Rose Corp. and the U.K.’s Pinewood-Shepperton Studios with Castlepoint Developments are vying to build the 1.25 million-square-foot studio on the 30-acre site on Toronto’s down-at-the-heels waterfront.
The Toronto Economic Development Corp. called for proposals last year after a previous deal fell through.
Bidders Comweb Group of Toronto with O&Y Properties and Giffels-Design Build with Raleigh Studios of Los Angeles are out of the running.
The studio complex is intended to take Toronto head-to-head with Los Angeles, Sydney and London in drawing major movie projects with budgets north of $50 million.