New 16-screen Theater to Anchor $85M Towson Circle III Development
- Feb 03, 2012
Baltimore County Executive Kevin Kamenetz announced on January 27 that Cinemark Theatres has signed a lease to be the anchor tenant for Towson Circle III, an $85 million expansion of Towson Circle. Baltimore-based The Cordish Cos. is partnering on the project with Heritage Properties of Towson. The downtown Towson retail and restaurant space has been planned for a half decade.
Towson Circle III spans 4.2 acres between East Joppa Road, Pennsylvania Avenue and Virginia Avenue in Towson, Maryland. It will house 16 state-of-the-art screens and 3,200 plush, stadium-style seats with 100 percent digital projection and enhanced sound systems. The lobby will be designed around one of Cinemark’s self-serve concession stands.
The entertainment center will also feature five new restaurants totaling 45,000 square feet and an 862-space parking garage which will be operated by the Baltimore County Revenue Authority. One of the restaurants will be attached to Cinemark while the other four will flank a one-way entrance off East Joppa Road. The developers will announce the names of the restaurants in the coming months.
In addition to private investment, Baltimore County will issue a $6.2 million grant to the revenue authority to build the parking garage while the Maryland Department of Transportation will spend $2 million for infrastructure improvements.
Headquartered in Plano, TX, Cinemark Holdings, Inc. is one of the nation’s largest movie theater companies. It has 448 theaters and 5,096 screens in the U.S. This will be the second Cinemark location in Maryland and the company expects it to draw 800,000 to 1 million people during its first year.
According to Baltimore County estimates, Towson Circle III will create a projected 1,530 jobs including 660 construction jobs and 870 permanent positions at the theater and restaurants. Construction is scheduled to start this quarter. The garage is expected to open in 2013, and the theater and restaurants should be ready by fall 2014.