Gold Class Cinema Starts US Drive

Village Roadshow Gold Class Cinemas LLC is a joint venture between Village Roadshow Ltd., an operator of theme parks and studios in addition to theaters, and Los Angeles-based Act III Entertainment Group. Other US locations are being eyed, but it appears North Texas has landed the first signed deal. Village Cinemas is Australia's largest operator. It also has screens in Singapore, Greece, Italy and the Czech Republic. The Gold Class Cinema venue offers smaller theater areas, reclining seats with call buttons for food and beverage service and wall-to-wall screens with state-of-the-art digital sound and projection technology.

The entertainment giant's website says it's a first for the US. "I don't know, but I do know it's the first one in Dallas," says James Kenny, leasing vice president for Dallas-based MGHerring Group. "I'm sure they were certainly looking at the marketplace in general." He tells GlobeSt.com that the developer was introduced to the deal by a broker from Youngstown, OH and the rest was worked out with Village Roadshow's senior vice president of development, Tim Reed of Indianapolis, who reportedly is eyeing other locations in the metroplex.

"Measured expansion of Gold Class Cinemas in the United States is focused on specific markets with key demographics and projects with superior design, retail and lifestyle compatibility," Reed says in a press release.

The bi-level theater, with a street-level lobby, will include a restaurant and bar plus a gourmet menu and premium wine list. It will be flanked by theater retail and other entertainment venues in a 120,000-sf building at the heart of the 400-acre mixed-use development, which broke ground in March at the intersection of Stacy Road and US Hwy. 75. The anchor roster includes Dillard's, Macy's and JC Penney and junior anchors like the Container Store and Barnes & Noble.

"The theater will be the centerpiece of our entertainment district," Kenny says. The 200-acre retail component will deliver in one fell swoop. The Village at Fairview's master plan includes 200,000 sf of class A office space, 1,000 multifamily units, 280-room Embassy Suites Hotel and 80,000-sf conference center.

Kenny estimates retail preleasing has hit 50%. He says the leasing campaign is targeting other firsts for Dallas for the 500,000 sf of specialty shops and restaurant space. "We're in the first blush of the specialty store leasing," he says, "but it's been very well received." He's negotiating with a first-class restaurant for its second location in the nation and "three or four more ready-to-wear retailers" that will be newcomers for North Texas.