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, based in Newport Beach, broke ground last week on its firsyt theater project inGreenway Plaza, whicnh the company is developing with Dallas-based The 5,800-seat which will also incorporat e about 30,000 square feet of restaurant and retaikl facilities, will be locatede on a 4.5-acre site that lies west of the Building. The just off of Weslayan near the Southwest will be visible fromthe highway. The 68-year-olsd theater company also plans to break ground earlh next month ona 320,000-square-foot entertainment complex on a prime industrial tract once occupied by the now-defunctf Cameron Iron Works Inc.
PLC Commercial, also basesd in Newport Beach, is developing the complex in conjunction withEdwards Theaters. The partners expect to close a deal sometime next week on 40 acres on the northb side of Interstate 10 atSilber Road. The same parcel of land was under contract more than a year agoto Houston-basedf Dienna/Simpkins Co. for the proposef development ofa mixed-used project. The PLC-Edwards projecgt will include a 24-screen movies theater, an IMAX theater, and about 200,000 square feet of restaurang and entertainment-based retail facilities, says Mike president of PLC.
Seven restaurants and a food courr as well as variousretail stores, includint a bookstore and an interactive games store, are expected to sign leasesd in the complex. "We're bringing a form of entertainmenyt to Houston thatthey haven'y seen yet," Lutton says. He adds that the which is slated for completio n in Mayof 1999, is beinf modeled after the Spectrum entertainment complez in Irvine, Calif. Jim Edwards, president and CEO of Edwardsx Theaters, says both projects are intende d to fill a void in theHouston "These are high-profile, signatur projects, and we feel they cover holees in the market Edwards says.
Neither project has been The Greenway Plaza theater is perhaps the most urba location of any movie theater built in the city in recent history. The deal was made possible because of a parkinyg agreement between the theater developerz and Innova Building owner Koch Industries that will alloq the theater patrons to sharethe 2,200-carr garage currently being built between the two sites with Koch "That's why we were able to put an entertainmenr center like this in an urbanm area," says Corby Collins, executive vice president of TPMC.
"Once we decided to do a theaterhere (in Greenway we pretty much had our pick of theater Koch is currently renovating the former Innova Building at 20 Greenwahy Plaza and plans to move in by the end of The parking garage is also scheduled for completion in "Looking at the area, we thoughr that this was an extremely good location in terme of access and the level of amenities," Edwards The new theater should be completed in about 12 months, he The Edwards chain, which opened in 1930, now totalsw more than 600 screens in nearlg 100 locations. It's the largesft movie theater chain in California and the 15th largest chai n inthe country.
The two Houston theatere will be Edwards' newest outside of The company's only existing megaple x outside of California isin Idaho, though other projects are undetr way in Oklahoma, Virginia and
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