Developer Requests Funds For Theatre

Will Canton finally get a movie theatre? Could we be the first to have an all digital theatre? Only time will tell.

The Canton Economic Development Corporation heard a presentation from local realtor Sandra Perry with ERA Realty and Select Cinemas, on development at the Bridwell Shopping Center located on East State Highway 243.

Perry and her partner Joan Crossley have been working with California developer Lynn Kirk of Kirk Management, to bring in national tenants to the Bridwell Shopping Center for more than two years.

"Our focus has been not to move people around in the city, but to bring new business in," Perry said. "National tenants are strictly numbers driven and if you don’t show the rooftops, they don’t care what First Monday does, but we have been very fortunate to get the tenants that we have secured so far."

"Our goal is national tenants and long term leases," Perry said pointing out that there is approximately 75,000 square feet of retail space in the Bridwell Shopping Center.

Current tenants include Video Giant, Salon 243, Metro PCS, CPS, USRC (dialysis center), Chinese restaurant, Hibbett Sports, 24-Hour Fitness Center, and two local businesses.

Perry said the CPS office is estimated to open September 1, the Chinese restaurant September 1 and the dialysis center an estimated two months.

Perry said the process has been slow due to not enough power being installed, but that some businesses could open within two weeks, and that they are still pre-leasing.

"What we need at this point and time to continue to draw these national tenants in is an anchor tenant, which brings us to Select Cinemas and something that this town desperately needs," Perry said.

"We have reached a point where this (shopping center) was not intended on being a movie theatre, and we are having to put more money into the building itself," Perry said. "It was not designed to be a movie theatre. It is going to cost minimally another $250,000, and at this point we have not asked the city for a dime."

Perry further stated that by the time the project is finished an estimated $6 to $7 million will have been invested in the shopping center.

Representing Select Cinemas was theatre owner and operator Blake Smith, and Larry Jacobson with Digital Cinema Development.

"There is not another cinema, even in the Metroplex, that is completely digital," Perry added.

When asked the cost of the theatre, Perry said it would cost the developer an estimated $2.23 million to build.

"The show must go on is a very serious thing," Jacobson said; pointing out that the digital cinema theatre is "much more exciting."

Jacobson explained that there would be two satellite dishes on the roof of the theatre and that it would get every movie when it is released with the availability to show those movies at any time.

He further explained that such things as local ballgames, graduation and other things could be "streamed" on the movie screens in addition to movies.

"The task will be what to select and what has economic impact to the community," Jacobson said.

"It is really exciting technology," he added. "This complex will have technology that will compete with anything anywhere."

Smith said the four-screen theatre would have an estimated 650 seating capacity, and would bring in an estimated 15 jobs with three of those being full-time jobs.

"It is pretty exciting to think that Canton would be one of the first all digital theatres built from the ground up," Smith said, adding that currently Select Cinemas is building a theatre in neighboring Gun Barrel City which is an all film theatre.

"It (the all-digital theatre) will stand up to anything in the country, and we won’t be behind the curve when most theatres will be," Smith added.

"The reason we are asking for the money is because to do the theatre will require the building have some significant adjustments to it. We are going to have to go up," Perry said.

The theatre, Perry explained, would be located on the east end of the shopping center behind the credit union.

The building would already be designed and constructed off site and brought in for finishing on site.

"Mrs. Kirk (the developer) has done this project completely on her own, and generally when developers come in that’s when they are asking for incentives," Perry said. "We haven’t asked for anything.

"This isn’t going to affect your taxes at all, but it is going to help keep our kids at home off the highway…and it is definitely going to bring in tax dollars, because if the center is successful everybody is successful."

When asked the estimated date of completion if the project is approved, Smith said it would open as early as Spring 2009, depending on the funding.

The CEDC went into executive session to discuss the request from the developer.

McCuistion explained that although the EDC supports the project they wanted to see more information on the economic impact that it would bring to the area such as the payroll and tax base.

"Projects are initiated by the EDC and then will be taken before the council for final approval in order to keep that line of communication open," McCuistion added.

Therefore, once the EDC acts on the project, it will be taken before the city council.