An Athens real estate firm is investing $60 million in a large TV and film studio called Athena Studios that recently broke ground in the city.
Reynolds Capital hired Atlanta-based Raulet Property Partners (which operates multiple Stageworks studios around Atlanta) to handle the clients. Cinelease will provide lighting, cameras and other equipment. Athens-based Koons Environmental Design and E+E Architecture are consultants.
Joel Harber, president of Reynolds Capital, said there will be three big soundstages that could be split easily into six, totaling about 126,000 square feet, as well as plenty of additional space for offices, warehouses and construction. That would make Athena on par in size with many metro Atlanta studio spaces.
“We’ll bring all the latest bells and whistles to the space,” said Harber, an Athens native who graduated from UGA. “There will be plenty of parking and space between buildings.”
There will also be an educational space for Georgia Film Academy and University of Georgia undergraduate students.
Reynolds also owns 53 adjoining acres for potential expansion for backlots.
“Athena is an exciting project because it expands the reach of the industry further into other parts of the state,” said John Raulet, CEO of Raulet Property Partners and one of the first real estate investors to pour millions into infrastructure in metro Atlanta after the state passed generous tax credits for film and TV studios in 2008. “Not every show requires urban locations such as Atlanta.”
Athens, he added, is a vibrant town that is ripe for more filming.
This new studio is addressing a shortage in soundstages worldwide as streaming services pour billions into new scripted content. Georgia real estate investors are taking note.
Michael Hahn and Dan Rosenfelt, formerly of Third Rail Studios, recently announced a new studio Electric Owl near the Indian Creek MARTA station. Gray Television is planning a massive studio at the former GM plant in Doraville. Eagle Rock recently added a third studio in Norcross. Raulet earlier this year added new space for his expanding Stageworks operations. Cinelease last year opened new studio space in Covington. And Blackhall Studios and EUE Screen Gems have announced planned expansions.
Harber said the first major stage space at Athena, which can be split into two, should be ready for usage in early 2023 and the other stages will be finished by 2024.
Here are the top 10 largest film and TV studios in Georgia by soundstage square footage, according to data provided by the Georgia film office. (Tyler Perry has the most actual acreage but a lot of that acreage is used for backlot purposes. He has 70,000 square feet of indoor stage space.).
1. Trilith Studios, Fayetteville, 360,000 square feet (numerous Marvel movies and TV shows such as “Wandavision,” “The Avengers” films and “Guardians of the Galaxy”)
2. OFS, Norcross, 250,000 square feet (”Bad Boys 3,” “Godzilla,” “Fast & Furious” films. Not purpose-built space but big warehouse space suited for big action films).
3. Blackhall Studios, Atlanta, 210,000 square feet (”The Tomorrow War,” “Dear Evan Hansen,” “Lovecraft Country”)
4. EUE Screen Gems, Atlanta 150,000 square feet (”Stranger Things,” the “Hunger Games” sequels, “Flight”)
5. Atlanta Metro Studios, Union City 134,000 square feet (”Red Notice,” “Watchmen,” “The Titan Games”)
6. Stageworks: Armour, Atlanta, 130,000 square feet (recently offered up for film and TV and is shooting Fox’s “Monarch”)
7. Eagle Rock Skyland, Norcross 128,000 square feet (opened in June 2021)
8. Eagle Rock, Norcross, 120,000 square feet (”Dynasty,” “Greenleaf”)
9. Cinelease Studios, Covington, 109,200 square feet (Opened in 2020)
10. Stageworks: Eastside, Conyers, 100,000+ square feet (”Doom Patrol”)
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