Kamenetz Announces Towson Circle III Theater
Kamenetz Announces Big Screen Movies
Returning to Downtown Towson
Cinemark Theatres opening 16-screen theatre at Towson Circle
Towson, MD Baltimore County Executive Kevin Kamenetz joined The Cordish Companies and Heritage Properties to announce leading motion picture exhibitor Cinemark Theatres as the anchor tenant for a new $85 million entertainment center in downtown Towson.
The occasion marked the first tenant announcement for the next expansion phase of the already successful Towson Circle development, which features Barnes & Noble, Trader Joe’s and Pier 1 Imports.
The theatre at Towson Circle III includes 16 state-of-the-art screens and 3,200 plush, stadium-style seats with 100% digital projection and enhanced sound systems. The new theatre will contain a Cinemark XD Extreme Digital Cinema auditorium exhibiting the newest movies every week, including 2D and RealD 3D pictures.
Towson Circle III will be located on a 4.2 acre parcel bounded byEastJoppa Road,Pennsylvaniaand Virginia Avenues. In addition to the Cinemark Theatres, the entertainment center will feature five new restaurants and an 862-space parking garage. The underground garage, to be operated by the Baltimore County Revenue Authority, is projected to open in 2013, with the theatres and restaurants opening fall 2014.
“We are thrilled that Cinemark Theatres is bringing the big-screen movie experience back to downtownTowsonin a big way,” said Baltimore County Executive Kevin Kamenetz. “This $85 million private investment adds new jobs, new entertainment choices, and renewed excitement to the center of downtownTowson.”
Towson Circle III is projected to create 1,530 direct and indirect jobs, including 660 construction jobs and 870 jobs once the theatres and restaurants open. Construction jobs will generate a total payroll of $27.6 million during the 2-1/2 years of construction. Once the project opens, jobs will generate an estimated $16.4 million annual payroll. Towson Circle III is projected to generate $1.75 million in County taxes each year, including $840,000 from amusement taxes, plus an estimated $2.9 million each year in State sales taxes.
“It is with great anticipation that we bring Cinemark Theatres to downtownTowsondowntown,” said Alan Stock, Cinemark’s Chief Executive Officer. “Our main focus is to create the best movie-going experience possible for our guests, designing an entertainment environment that offers technologically advanced amenities and a viewing experience that simply cannot be duplicated. We are excited to share all that Cinemark has to offer with a whole new audience at Towson Circle III.”
“While several different approaches have previously been considered for the site, none brought the energy and excitement of Cinemark and an array of quality restaurants,” said Mike Batza, Chairman and CEO of Heritage Properties. “This will be a classic Cordish-style entertainment and dining venue, and should be a destination for people living around the region.”
Blake Cordish, Vice President of The Cordish Companies stated, “We are thrilled to have Cinemark anchor Towson Circle III. Cinemark is a leader in the movie industry, representing quality, innovation and world-class entertainment. Towson Circle III will be an outstanding addition toTowsonand we and our partners, Heritage Properties, are pleased to further our investment inBaltimoreCounty.”