Amarillo College Terminates Sharpened Iron Studios Lease Over Unmet $8M Renovation Terms

Amarillo College's Board of Regents voted to terminate Sharpened Iron Studios' 50-year lease for the downtown Amarillo property at 1314 S. Polk Street, citing the studio's failure to meet lease obligations, including an $8 million investment and construction deadlines extended to May 31, 2025. Despite extensions and flexibility granted by the college, Sharpened Iron had only invested $3.5 million and not completed the required renovations, soundstage construction, and the establishment of a promised film school. Sharpened Iron disputed the college's claims, accusing Amarillo College of breaching the contract, failing to address infrastructure issues, and not fulfilling its own obligations under the agreement. Regents expressed disappointment over the failed partnership, which was initially seen as a catalyst for downtown revitalization and regional film education development. The college has directed its legal team to notify the studio formally and pursue any necessary legal actions to protect its interests. This decision comes shortly after Texas increased funding for the Texas Moving Image Industry Incentive Program, aimed at attracting film and TV productions to the state.