ITEX Group Unveils Cinema-Anchored BTR Project
The Aronson will incorporate eight indoor theatres and a permanent drive-in.
A partnership between ITEX Group and Time Warp Enterprises dubbed Catchlight Entertainment has unveiled plans to develop The Aronson, a 214-unit mixed-use, single-family rental community anchored by the Alamo Drafthouse Cinema + Drive-In in Fayetteville, Ark. Completion is expected in 2024.
The project will be located at 3552 Highway 112 N., the site that previously housed a drive-in cinema, as reported by Talk Business & Politics. the property is expected to encompass single, duplex and triplex homes, as well as garden-style apartment buildings. Community amenities are slated to include a clubhouse, swimming pool, fitness center, playgrounds and dog parks.
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Named after cinema pioneer and Arkansas native Max Aronson, the development incorporates a sizeable commercial side which will center around the Alamo Drafthouse Cinema, expected to encompass eight indoor theaters featuring 4K digital projection totaling 798 luxury seats. It will also feature the firm’s first permanent drive-in theater as well as The Big Show, a large-format theater. The retail component will also include restaurants.
Catchlight Partner & CEO of ITEX Chris Akbari stated in prepared remarks that the project will also emphasize green spaces and will focus on walkability and bike accessibility. As the multifamily market faces uncertainty and the single-family sector is expanding, The Aronson represents a creative mixed-use project aiming to develop a unique set of amenities.