Getting that right would be probably the one of the biggest expenses. The story doesn’t really let you get away with a really kickass model shot and then only interiors. Full scale street facades as well as probably entire actual buildings would need to be done. Then you also have to destroy it later. When I fantasize about making movies I fantasize mid budget.

Also for location, not new Zealand. I wanna see snow. Beleriand was to the northwest of lotr middle earth and I think shooting somewhere in north eastern ish Europe would be ideal. This means it would end out shot in Vancouver but I know spots there that could make do, probably need to haul in some fake snow. I picture Children of Hurin to be a generally cold and wet vibe.