LOOK CINEMAS TO JOIN CITYLINE AS ENTERTAINMENT ANCHOR
LOOK Cinemas to Join CityLine as Entertainment Anchor
RICHARDSON, Texas – September 16, 2014 – KDC, one of America’s leading commercial real estate development and investment firms, today announced it has agreed to sell land to LOOK Cinemas to build a 60,000-square-foot upscale dining and movie theatre complex at CityLine, the company’s 186-acre mixed-use project in Richardson, Texas.
“We are excited to welcome LOOK Cinemas as our entertainment anchor at CityLine, a premier venue that offers a unique movie-going and dining experience for its patrons,” said KDC’s Walt Mountford. “With the addition of LOOK Cinemas, CityLine continues its goal of becoming a premier lifestyle development with parks and trails situated amid businesses, residents and entertainment venues.”
The planned 60,000-square-foot upscale dining and entertainment complex will be freestanding and located on the corner of State Street and Plano Road. LOOK Cinemas’ patrons will enjoy a state-of-the-art, 12-screen, all recliner and luxury seating theatre complex. Patrons will have the option to dine in the complex’s signature restaurant – IVY Kitchen - or in one of four dine-in theatres while enjoying entertainment.
“This is huge for CityLine and the surrounding area,” said KDC’s Colin Fitzgibbons. “LOOK Cinemas is a first-class organization with a track record of partnering with other industry leaders, including the Branstetter Group and Dolby Laboratories, to deliver a customer experience unlike any other out there. This will be a great addition to CityLine.”
“We are very pleased to be a part of the CityLine development. Since we first heard about the project, we have been very enthusiastic about it, and we are thrilled to be selected as the theatre operator at CityLine,” said Tom Stephenson, founder and CEO of LOOK Cinemas stated. “Our goal is to offer the single best combination of movie and dining experiences, and with the LOOK Cinemas at CityLine, these will be accessible by another rapidly growing part of the Metroplex. We offer our guests a great dining and theatre experience so they no longer have to choose one or the other.”
Construction on LOOK Cinemas CityLine is expected to start in May 2015 with a grand opening in May 2016.
In July 2013, KDC broke ground on the 186-acre mixed-use CityLine development and announced that State Farm will lease 1.5 million square feet in three office towers. KDC also is developing an additional 500,000-square-foot building, to be leased by State Farm, and a 489,000-square-foot office complex for Raytheon at CityLine.
CityLine features dense urban development set in a comfortable environment with easy access to office, residential, retail, entertainment and parks. The $600 million, 2.3 million-square-foot initial phase of CityLine construction is slated for completion in late 2015. It includes a contemporary 150-room select service hotel; 935 apartment units; an 18,000-square-foot wellness and fitness facility; a 41,000-square-foot medical office building; and a 3.5-acre park with trails.
CityLine Plaza, a centrally located urban plaza designed by Office of James Burnett, will be the focal point of the first phase of development. More than 92,000 square feet of retail, restaurant and entertainment options will be integrated into the base of the office towers, the multi-family residential and the hotel. It will frame the CityLine Plaza and create a high energy environment.
By September 2015, CityLine is expected to have a daytime population of 10,000 people. At full build-out, the $1.5 billion CityLine project will contain approximately six million square feet of office space, two hotels, 3,925 multi-family residential units, 300,000 square feet of grocery, restaurant, entertainment and retail space, and three parks.
About LOOK Cinemas
Dallas-based LOOK Cinemas (www.lookcinemas.com) offers state-of-the-art theatres featuring luxurious, ultra-comfortable reserved seating, as well as signature restaurants. You can LOOK & Dine in our dine-in theatres with full food and beverage service; savor handcrafted cocktails and light fare with your movie in The Lofts; stretch out in one of our three spacious seating options in the Living Rooms; or enjoy our largest screens paired with power recliners and Dolby Atmos sound in Evolution.
KDC, one of America’s leading commercial real estate development and investment companies, provides a full range of commercial real estate services including corporate build-to-suit development, acquisitions, corporate facility project/construction management, project financing, asset and land management, and marketing and leasing. KDC is headquartered in Dallas and has offices in Austin and Houston, Texas, and Charlotte, N.C. For more information, please visit kdc.com.