The Real Deal Miami

Bonds sought for $250M Miami-Dade film studio

Plan includes space for upscale hotel, retail space

Proposed bond slated for infrastructure improvements

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

  • mondocondo

    How is this good for the city, and a good use of funds? Who is Rodolpho Paiz and what relevant experience does he have developing a project of this scale and running a film studio? What will be the terms of the lease? How will the $250 million in public bonds be repaid? Is this a case of build it and they will come, or has a series in production shown some legitimate interest? What is the “developer” kicking-in to the pot? Cheers

    • Kristian Toimil

      The article says he’s seeking $10 Million in bonds and that $250 Million will be privately funded.