A 10-screen, dine-in movie theater will anchor a new $80 million mixed-use development planned for Southwest Austin.
(Article by Gary Dinges, republished from http://www.mystatesman.com/news/business/dine-in-theater-to-anchor-80-million-sw-austin-dev/nrPKg/)
Austin-based Stratus Properties Inc. said Tuesday it has signed a deal with Moviehouse & Eatery to locate at Lantana Place, a 325,000-square-foot project at Southwest Parkway and West William Cannon Drive.
Stratus envisions the $80 million development will have a heavy entertainment focus, president and CEO Beau Armstrong said, with shops and restaurants, as well as a hotel and some offices.
Another Stratus development, Parkside Village in Southwest Austin, also features a theater, Armstrong said, and has done well.
“A theater can be such a great anchor,” he said. “It’s a very successful formula.”
Construction on Lantana Place will start by year’s end, with the 42,700-square-foot theater expected to open in March 2018. It will employ more than 150 people.
“Honestly, we’d love to be open next week,” said Moviehouse & Eatery principal Leslie Sloan. “Right now, there are no restaurants and no entertainment in this area at all.”
That’s despite the presence of several large employers nearby, such as AMD, that give the area a strong daytime population. And with a number of residential projects under construction nearby, including Stratus’ Santal apartments, the residential population is increasing, too.
Construction on Lantana Place will start by year’s end, with the 42,700-square-foot theater expected to open in March 2018. It will employ more than 150 people.
“Honestly, we’d love to be open next week,” said Moviehouse & Eatery principal Leslie Sloan. “Right now, there are no restaurants and no entertainment in this area at all.”
That’s despite the presence of several large employers nearby, such as AMD, that give the area a strong daytime population. And with a number of residential projects under construction nearby, including Stratus’ Santal apartments, the residential population is increasing, too.
Read more at: http://www.mystatesman.com/news/business/dine-in-theater-to-anchor-80-million-sw-austin-dev/nrPKg/
