Plymouth Rock Studios on Hold?
by Anna Goncalves
That’s right, it looks like the Hollywood East loan has gone south! Prosperity International LLC, based in Orlando, Florida, will no longer be funding the project. But what happened? The $550 million plan was just weeks away from going forward! Well, apparently the would-be financier was a tad bit too confident it could deliver this massive loan amount during these tough economic times.
“The lender was required to meet a milestone on November 6 and has failed to do so,’’ the studio said in a prepared statement. “Consequently, [the studio] exercised its contractual right to cancel the agreement.’’
I guess we’ll have to, anxiously, await the fate of what will, indefinitely, transform Massachusetts into the Hollywood of the East. But then again, as we have all witnessed, the movie making business has long been making its mark in Massachusetts. If anything, Plymouth Rock will add to what we have already achieved. So don’t sweat it—all evidence points to Massachusetts still carrying the Hollywood East title