DALLAS—Victory Park is getting into the movie business.

The development has signed Cinépolis USA, a Mexico-based movie house, to open an eight-screen, 700-seat luxury theater in the heart of the 75-acre mixed-use development in downtown Dallas. Located at the northwest corner of Victory Park Lane and High Market Street, the theater will be part of a multi-level, mixed-use building which also will include residential and retail components and additional parking.

“Cinépolis USA marks the seventh retail tenant we've signed in the past 12 months, and we're looking to continue the momentum throughout the district,” Lance Fair, COO of Estein & Associates and vice president of Victory Park, told GlobeSt.com.

It will be the theater chain's debut into Dallas and its first location in Texas. The approximately 44,000-square-foot cinema is, ahem, projected to open in 2017.

“Welcoming Cinépolis Luxury Cinemas as Victory Park's newest entertainment anchor validates the excitement about what's on the horizon for the New Victory Park,” says Terry Montesi, CEO of Trademark Property Co., Victory Park's retail partner. “Leasing interest in Victory Park is very strong, and we are being patient in order to curate the right tenant mix for the re-development.

“We already have one of the best locations in Dallas. Now, we're executing a strategic leasing plan, enhancing the streets and sidewalks, and implementing our new design to make sure that the New Victory Park is a walkable, exciting, easy to use and soulful part of Dallas' culture and community.”

The addition of Cinépolis is not the only recent redevelopment milestone. In December, Hines and Cousins closed on the acquisition of the 2.94-acre site on Victory Avenue, on which the firms plan to develop Victory Center, a 23-story, 466,000-square-foot office tower. Construction is slated to begin in the next few months.

On the retail side, Victory Park recently announced five new tenants. In the past year, more than 1,000 new residential units opened in Victory Park and another 425 are slated for completion in 2015.

Victory Park began its initial phase of construction in 2014 with a primary focus onpedestrian-friendly improvements to Olive Street and Victory Park Lane. To date, work has centered on the new signalized intersection and traffic light at Olive Street and Victory Park Lane, large crosswalk on Olive Street, and on Victory Park Lane where existing raised medians and street lights have been removed, sidewalks have been widened to accommodate large outdoor patios, new trees have been installed, raised mid-block crosswalks have been added, and planters, benches and light poles with banners are being installed. 

Phase I will continue throughout 2015 with  the installation of new directories, seating and landscaping throughout Q1, and the completion of two way traffic conversion and Katy Trail extension slated for late summer 2015.