Movie theater moving ahead

After two years of delays, the completion of the theater complex at 40th and Walnut streets may finally be in sight.

The University Board of Trustees on Thursday authorized Penn officials to proceed in securing a deal for completion of the movie theater, and also indicated its willingness to provide any additional funding necessary.

"The Trustees have authorized us to spend an additional $13 million and also to proceed in signing the deal to pick National Amusements as the company to build the theater," outgoing Executive Vice President John Fry said.

Current figures estimate that the theater project will cost Penn a total of $28 million, $15 million of which Penn has already spent.

Since February 2001, Penn officials have been courting National Amusements, a part of entertainment giant Viacom, and Cinebridge, the subsidiary of National Amusements that will be working with Penn in the development of the theater, because of their innovation and creativity in designing and developing movie theaters.

Though the cinema complex was originally slated to open in April 2000 as a partnership between Penn and Robert Redford's Sundance Cinemas, construction of the theater halted in November 2000 when Sundance's partner company, General Cinemas, filed for bankruptcy.

Official negotiations between Penn and National Amusements began this past summer, and the parties now appear to be only weeks away from making the final agreement.

The official announcement is expected to come in early April. According to Fry, the proposed deal is a 10-year lease with five five-year renewable options. National Amusements will also contribute $3 million towards furniture, fixtures and equipment.

"National Amusements is one of very few theater operators introducing new concepts," Fry said. He added that the movie theater, which will be a scaled down version of Cinebridge's luxury movie theater in Los Angeles, called The Bridge, is slated to include six theaters with state-of-the-art technology, a cafe, valet parking and quality concessions.

"The Bridge's upscale environment is important," Fry said. "We're having [the theater] look well-finished."

Though the original theater plan was intended to have classroom space, the new plan does not include any.

Fry does not expect difficulty in making a final arrangement with National Amusements.

"We're very thrilled with National Amusements as our partners," Fry said. "They're very experienced, very stable financially."

Fry is confident that the movie theater will be a success, especially because of the "commercial viability of the 40th Street area."

The Freshgrocer, the upscale grocery store which opened nearly one year ago across the street from the theater location, has grossed nearly $20 million this year -- $7 million more than expected.

"We think the theater will be a great thing for not only the Penn community, but for the University City community as well," Fry said. Construction of the movie theater is expected to restart in the coming weeks, and the new estimated completion date for the theater is November 2002.

While future generations of Penn students will be able to enjoy the theater, this announcement is bittersweet for many Penn seniors who have anticipated frequenting the theater for the past two years, but now can only expect to pass by the construction site.

"I guess I would have liked to see it open earlier. It is an important project," College senior Adam Michaels said. "I'm sad that I won't get to use it."

Wharton senior John Matley agreed. "I think it is absurd that they ripped out the Burger King [formerly located in the theater's space], which I really liked a lot, and then didn't move on it."

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