Things could be getting fun!
Phoenix Business Journal
Updated May 26, 2022, 2:42pm MST
Aaron Klusman has big plans for the iconic Union Station in downtown Phoenix.
The co-founder, chairman and CEO of Gilbert-based Rivulet Media Inc. plans to move the company headquarters to the former train station at 401 W. Harrison St., and develop a mixed-use project that will include a production studio, residential tower, boutique hotel and office space on 10 acres.
According to Vizzda LLC real estate database, Klusman paid $4 million to Spring Communications LP for the 30,267-square-foot Union Station building that was built in 1923.
There are two telecommunication towers on the 7.34-acre site, located within an opportunity zone south of the southwest corner of Third Avenue and Jefferson Street, according to Vizzda. The property also includes the iconic Icehouse, an arts and entertainment venue.
Phoenix Union Station, which is nearing its 100th birthday, is on the National Register of Historic Places.
Rehabilitation work on the former train station is beginning now, with the first phase expected to be completed between fall 2022 and spring 2023.
Klusman said it's too soon to determine the number of residential units that will built, as well as how many square feet will be dedicated to the production studio and headquarters.
He also said it's too soon to determine total development costs of the project.
Klusman likens the project to a modern-day Warner Brothers studio lot, with some edge and grit while keeping true to Phoenix's unique storyline.
Rivulet Media's wholly owned subsidiary, Rivulet Films, plans to be involved in this mixed-use production studio, to include its film, television, animation, music and gaming production, Klusman said.
Rivulet Films announced at the recent Cannes Film Festival its acquisition of the sequel to Law Abiding Citizen starring Jamie Foxx and Gerard Butler as well as “John Wick” writer Derek Kolstad’s action-thriller franchise “Acolyte.”
Rivulet Films is releasing Machine Gun Kelly’s new film Taurus later this summer, along with Demi Moore’s film “Please Baby Please” this fall. Klusman and Rivulet Films’ CEO Michael Witherill and President Rob Paris have been involved in many films together for more than 15 years, most notably John Wick.
A separate documentary proposed by Rivulet on former Maricopa County Sheriff Joe Arpaio previously announced does not yet have a release date.
(cont)
