IDA considers supplemental agreement Thursday
Medient Studios Inc. has hired Choate Construction Co. as the construction manager for its movie studio project in Effingham County.
Medient previously announced it had hired Bill Foley Designs as architect and Hussey Gay Bell & DeYoung as engineers. Adding Choate completes the “dream team,” Medient CEO Jake Shapiro said Wednesday.
The initial engagement is for the pre-construction and construction specifications for the first phase of the development’s sound stages, offices, public areas, roads and infrastructure, the companies announced.
“We believe that Choate is the regional leader in terms of quality and reputation,” Shapiro said. “From the very beginning, we have been impressed with their professionalism and expertise.”
Andrew Verenakis, senior pre-construction manager at Choate, said his firm was impressed by the seriousness and conviction of Shapiro and his team.
“This is an important project for the region, and we are excited to be a part of it,” he said.
Medient’s “studioplex” project is planned on 1,600 acres owned by the Effingham County Industrial Development Authority (IDA) at Old River Road and Interstate 16.
The company recently announced it will change its name to Moon River Studios, but the change has not taken effect.
The IDA will get an update on the project at its meeting at 6 p.m. Thursday and will consider a supplemental agreement that would update timetables.
IDA CEO John Henry said Choate is a firm “of the highest caliber.”
“We know Choate well and have worked with them in the past,” he said. “It is very good news that Choate is working on this project.”
Shapiro has said his goal is to have a production building done by the end of this year -- an ambitious plan given that the project still must go through the state review process for a development of regional impact.
The company was a year behind on its development schedule as of July. It is through the first year of its two-year construction period before its first rent payment on the IDA land comes due.
A revised agreement with the company would set up a new schedule of when certain things must be completed.
The latest plans put more of an emphasis on the basics of film production and less on whimsical elements such as a bridge over wetlands, solar trees and a glass “leaf” over an outdoor pavilion. But the later phases still include two hotels, a lake, baseball fields, soccer fields, tennis courts and a 20,000-seat amphitheater.
The company recently went through a hostile takeover, with Shapiro replacing founder Manu Kumaran. Litigation over the change continues in Nevada, where the company is incorporated, and a shareholder lawsuit continues in Effingham County.
The Securities and Exchange Commission temporarily suspended trading of Medient stock earlier this year because of questions surrounding the accuracy of the company’s public disclosures.
About Choate:
Founded in 1989, Choate Construction Co. employs more than 350 full-time professionals. In addition to an office in Pooler, the company has offices in Atlanta, Charleston, Charlotte and Raleigh. Its portfolio includes a variety of projects, including hospitals, housing, government buildings and retail space. Its website: www.choateco.com.
About Medient:
Medient’s stock is traded on Pink Sheets as MDNT. The company’s new website: medientfilmstudios.com.