Miami Ocean Studios LLC is seeking approval for a $10 million bond to help fund the creation of its proposed film studio.
The company, led by Rodolfo Paiz, reportedly wants the bond to fund infrastructure improvements for the lot it intends to lease from the county at 20000 Northwest 47th Avenue. The company had previously requested a $5 million bond in July and later withdrew the request.
The Miami Economic Development & Port Miami Committee will consider the bond measure on Dec. 11, according to the South Florida Business Journal. If approved, the measure would then go to the county commission.
The $250 million, 900,000-square-foot facility would include 10 sound stages, two water stages and production offices. The developer also intends to build an upscale hotel with retail space. Construction on the 650,000-square-foot first phase is planned to start in November 2015, with the remaining space built out within five years, the Journal reported. [South Florida Business Journal] – Chris Guanche