Ground broken for NYC film and television production complex

Markets Associated Press

A 10-acre vacant New York City lot will be transformed into a film and television production complex.

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The project had a groundbreaking Tuesday in the Bronx. Queens-based York Studios is behind the project. The studio is home to the CBS series "Elementary" and the movie "The Amazing Spider-Man 2," among others.

The new campus in the Soundview neighborhood will eventually house nine sound stages, production office space and workshops for each stage.

Government officials predict the project could generate nearly $100 million in new tax revenues for the Bronx. They say it will create hundreds of construction jobs and employ about 400 production industry professionals.

Completion of the first phase is expected in 16 to 18 months.