Print
Real Estate - Commercial

Movie Theater Planned For Midtown Wilmington

By Cece Nunn, posted May 7, 2015
A rendering of a new movie theater planned near Independence Boulevard and South 17th Street. (Courtesy of Stone Theatres)
Stone Theatres plans to build a 14-screen movie theater near Independence Boulevard and South 17th Street, according to an announcement Thursday.

The theater would be located at Barclay Festival, a 34-acre retail mixed-use development that is a joint venture between Cameron Properties Land Co. of Wilmington and Collett, a commercial real estate firm in Charlotte, a news release from Stone Theatres said.

Plans include a 55,000-square-foot cinema with more than 2,800 stadium seats. Previous proposed multi-screen theaters, including one that was supposed to be part of a development off Carolina Beach Road, have fallen through in the past. But, according to the Stone Theatres release, the Barclay Festival multiplex is expected to open in late fall 2016 or early 2017, according to the announcement.

“There is tremendous pent-up demand in this area of Wilmington for [another] multi-screen cinema. Our facility will be a modern and convenient show palace that will fulfill a need for the growing community and create synergy within the development. We expect to build a state-of-the-art cinema unlike any other in the market and are thrilled to be a part of this project,” said Herman Stone, president and CEO of Stone Theatres, in the release.

Hill Rogers, broker-in-charge for Cameron Management Inc., said Barclay Festival will also feature a grocery store, numerous restaurants and shopping, all within a walkable master planned community. Included in the retail component will be numerous open spaces for community gatherings, outdoor dining and seasonal festivals, he said in the release.

“We are thrilled to have Stone Theatres committed to our project in Wilmington. Herman Stone and his team are a first class organization, known in the industry as a leading regional operator with decades of experience building and operating high end cinemas. We expect this cinema will be a catalyst for drawing thousands of customers on a weekly basis to Barclay Festival,” Rogers said in the release. “This development will create jobs and an economic boost to the community.”

John Collett, president and CEO of the Charlotte firm, said, “Collett has been developing prominent and well located retail destinations and shopping centers for years and we are honored to be partnering with Cameron Properties Land Co. on this latest endeavor, which we feel can be a major destination in Wilmington.”

Residential development in midtown Wilmington has been on the rise in recent years, including new apartments and homes that will be within walking distance of Barclay Festival. 

"I think it will have a positive influence," said Cal Morgan, a real estate appraiser and owner of JC Morgan Co.  "The movie theatre is a result of the area growing and becoming more desirable, which is typically coupled with price appreciation."

Morgan used the example of Regal Mayfaire Stadium 16, the multiplex at Mayfaire Town Center. "I would say it certainly enhanced the area," he said. 

The president and CEO of Stone Theatres used to have the same job at Consolidated Theatres, a firm whose locations, including Mayfaire 16, were bought by Regal in 2008, the announcement said. 

Stone Theatres, headquartered in Charlotte like Collett, currently operates four locations with 56 screens in North Carolina and South Carolina and is building another in Indian Land, S.C., about 30 minutes south of Charlotte.
Ico insights

INSIGHTS

SPONSORS' CONTENT
Jasonpathfinder3

Unlocking the Full Potential of Your Executive Compensation Package

Jason Wheeler - Pathfinder Wealth Consulting
Gretchen roberts 2021

From Contracts to Offshoring: 7 Powerful Gross Margin Growth Levers

Gretchen Roberts - Red Bike Advisors
Bovio ernie ceo 240207 head 712412398

One to Grow On – A Look at My First Year at the Coast

Ernie Bovio - New Hanover Regional Medical Center Novant Health

Trending News

Brokers Mark Signs Of Housing Market Slowdown

Emma Dill - Jun 18, 2025

Wilhelm Named UNCW Chief Of Staff

Staff Reports - Jun 17, 2025

Developers, Local Leaders Talk Ongoing Downtown Projects

Emma Dill - Jun 17, 2025

Miller Sworn In To CFPUA Board

Staff Reports - Jun 17, 2025

Dorn Named Managing Broker Of Real Estate Firm's Hampstead Office

Staff Reports - Jun 17, 2025

In The Current Issue

Bespoke Unveils Bar Addition

By leaning into the overall vibe of Italian apertivo drinking culture, Bespoke’s owner, Robby Dow, has developed a new business model for th...


Life Science Industry Buzzing

“We want a rising tide to rise because it helps everybody. Wilmington has a lot of what we need (but we) just need everyone in the same rowb...


Island School Offers Unique Option

Located on Bald Head Island three miles off the coast of Southport, the Bald Head Island Academy, founded in 2022, is a private, K-8 school...

Book On Business

The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2024 Power Breakfast: The Next Season