As most of you know, Assembly Atlanta is a 135 acre mixed use real-estate complex now owned entirely by Gray. It is located at the former side of the General Motors assembly plant in the city of Doraville, along the I-285 Perimeter Highway, just a few miles up the road from our offices here in Atlanta.
The signature component of Assembly Atlanta and its development is our 43 acre Assembly Studios complex. That section will feature soundstages, production offices, warehouse and mill buildings, studio bungalows, event space and multiple parking decks. Along with the Gibson Company as the developer and the construction manager and with our strategic advisers at JLL, the project went vertical in the second quarter when all the walls were erected for the first new soundstages that will be used by Gray’s Swirl Films. Construction will begin soon on the buildings that NBCU will utilize, and we currently expect that NBCU will be producing its first new shows at Assembly Studios in the second half of 2023, about a year from right now.
In addition to reaching a long term lease with NBCU, we also entered into additional agreements whereby NBCU will handle the day-to-day management of both Assembly Studios and our existing studio businesses at Third Well Studios