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n e w h a v e n b i z . c o m | M a y 2 0 2 3 | n e w h a v e n B I Z 19 Ion Bank is devoted to their customers, devoted to their service, and they're really a partner in your business. Maria Bruscino Sanchez - Owner & Founder, Sweet Maria's Bakery TM IonBank.com • 203.729.4442 Member FDIC the Greater New Haven Chamber of Commerce. White appeared in person to showcase the studio's high-def video technology and spoke as the keynote before hundreds of business leaders. "e idea of bringing this industry back, of trying to shoot a movie here, was always in my mind," White told the Chamber audience, speaking of his childhood dream to offer opportunities to area young people. Jaigantic still planned to break ground on phase one of the Fair Haven studio in spring 2022, he added. But details on funding remained scarce, with the website stating that "company founders, executive team and private equity" would pony up money to get the project started. Jackie Buster, then acting as spokes- person for Jaigantic, said that the studio project would go before the city planning officials in January 2022, but that date passed with no further devel- opments. In a March 2022 presentation to New Haven's Development Commission, Jaigantic officials said they had raised only $23 million for the project, adding that $85 million in seed funding plus $52 million in a Series A capital raise were both in progress. City officials said at the time they were close to finalizing a develop- ment and land disposition agreement (DLDA) with Jaigantic, but the com- pany's memorandum of understanding expired in March with no deal in place. en came months of infrequent communication, then silence, said City Deputy Economic Development Administrator Steve Fontana, who had been working with the studio "We reached out to them in Septem- ber and December and we received these very short, cryptic responses," Fontana said. Focus on Fair Haven progress City officials spent some time and resources on the studio proposal but have been more focused on the overall redevelopment of Fair Hav- en's long-blighted industrial corridor, Fontana said. Recent activity in the area include Armada Brewing, which opened in April 2022, and the announced expan- sion of manufacturing company Art To Frames, which plans to build a new warehouse and add jobs on Chapel Street. In addition, the former Phoenix Press property at 15 James St., is in the process of turning over for another industrial use, Fontana said. Nearby, in Fair Haven's retail corri- dor, plans recently advanced to convert the former Strong School to affordable housing. Even without Jaigantic, the River Street area represents an increasingly scarce resource in New Haven – vacant property zoned for industry, Fontana said. "It's a crucial part of the city – there's so little remaining industrial commer- cial land," he said. Inquiries come in on a regular basis from companies seeking industrial property, he said. Without a current agreement in place, the city property at 46-56 River St. that Jaigantic was eyeing for the studio complex is up for grabs, Fon- tana said. "I think at this point we're enter- taining interest," Fontana said. "So, if people are interested they should feel free to contact us." New Haven's brush with Hollywood glamour may have come up short for now, but perhaps White himself had the best argument for optimism about Fair Haven's prospects. "Making the transition from good to great oen happens in times of un- certainty or unforeseen change," White said in advance of the 2021 chamber event. "at's when strength and resil- ience meet preparation to expose new opportunities for success." n The section of New Haven's Fair Haven neighborhood eyed for a $200 million movie studio complex was still blighted and vacant as of last month. PHOTO | LIESE KLEIN

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