Tuesday, July 09, 2013

Cinema Complex Will Kick Off Huge Frisco Mixed-use Project

A new Cinemark theater complex will launch a 320-acre mixed-use development in north Frisco.
The development, which includes retail, apartments and commercial space, is the first such project to kick off at the strategic intersection of the Dallas North Tollway and U.S. Highway 380.

Cleveland-based Forest City Enterprises is developing the complex in partnership with property owner Ernest Mahard.
Cinemark on Wednesday confirmed that it has purchased 12 acres to build a 14-screen cinema at the southwest corner of the tollway and U.S. 380.
“This theater will be part of a premier shopping development being developed by Forest City and will quickly become recognized as a preferred location to enjoy a great movie-going experience,” Cinemark CEO Tim Warner said in a statement.
More important, the Cinemark will enable Forest City to start the development, which has been in the works for more than a year.
“This is going to be the first anchor retail tenant like that on U.S. 380 in Frisco,” said James Gandy, president of the Frisco Economic Development Corp. “This is the first domino.
“There are a lot of retailers and restaurants out there that like to be adjacent to movie theaters.”
Gandy expects that other developments will quickly follow in the complex after the theater opens.
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