Larco Investments has scrapped plans for a film studio and office project in Burnaby, according to the city’s mayor.

“Larco has expressed that they do not wish to proceed with the studio development at this time and would be withdrawing their rezoning application,” Mike Hurley wrote in a motion to council.

Larco had planned to develop a 300,000-square-foot studio with 16 sound stages, along with related office and workshop spaces at a vacant industrial site at 3990 Marine Way, in the Big Bend area near the Fraser River. Hurley’s motion asks council to agree to explore ways to protect ecological and environmental aspects of the site.

The city sold the 17-acre property to Larco for $136 million in 2021. No reason was given for Larco’s decision to scrap the project.

Larco owns Bridge Studios, which would have operated the facility if it had been built. Bridge has large operations at the three other locations in Burnaby.

Pictured: Rendering of a proposed Bridge Studios complex that has been cancelled

Rendering: CTA Architecture & Design/Bridge Studios