A labor agreement between the Southern Nevada Building Trades Union and the joint venture between Howard Hughes Holdings and Sony Pictures Entertainment has been established for Summerlin Studios.
The studio is to be comprised of 10 buildings, including a 500KSF studio/production facility, 100KSF retail, restaurant and office space, an emergency room and a satellite office for Clark County. Currently, there is a fire station on the site.
Due to the new agreement, the 31-acre project is set to create thousands of union jobs. Representatives from the developers confirmed the labor agreement had been reached. Construction is anticipated to begin once an incentive bill passes through the Nevada Legislature.
Gensler is the architect attached to the project.
Sony agreed to commit $1B to the project across a decade, and Howard Hughes Holdings committed $700M for the construction of the campus.
Legislation
Currently, the State has a $10M tax credit budget. Assemblywoman Sandra Jaurequi is working on a bill that would raise the tax credit budget to $105M/year for 15 years, with $80M reserved for film projects at Summerlin Studios. Senator Roberta Lange is working on a bill that would delegate up to $115M/year for 15 years, with $100M set aside for the competing Nevada Studios project. Neither bill has been officially proposed.
