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
Untitleddesign2

The Importance of Real Estate Appraisals

Steve Mitchell - Cape Fear REALTORS®
Cfss headshots parker robert webversion 21422121214

The Latest Solar Scams and What You Can Do to Help Stop Them

Robert Parker - Cape Fear Solar Systems
Untitleddesign2 4523114356

Cybersecurity and Productivity: Striking the Perfect Balance for Business Success

Barrett Earney - EarneyIT

Trending News

Vantaca’s Balancing Act

Audrey Elsberry - May 17, 2024

Channel, UNC Law School Aid Wilmington Small Businesses

Audrey Elsberry - May 16, 2024

Developers Mark Opening Of $78M Apartment Project At Riverlights

Staff Reports - May 17, 2024

Two Apartment Projects Pitched For Kerr Avenue

Emma Dill - May 17, 2024

As Hurricane Season Heats Up, How Do Builders, Laws Prep Homes For Storms?

Emma Dill - May 17, 2024

In The Current Issue

Half Marathon Takes Whole Race State Title

The top half marathon in each state was crowned based on nearly 20,000 votes from runners across the country....


Submarine Museum Could Surface Here

​A museum would continue to support those military families and honor submarine veterans but also serve as a way to provide science and math...


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