Cinemark Theatre's announcement to anchor Frisco North is a solid start for the mixed-use project at the southwest corner of the Dallas North Tollway and U.S. 380, said Jim Gandy, Frisco Economic Development Corp. president.
The theater is the first anchor store to commit to the 320-acre project in development by Forest City Inc., which is a subsidiary of Forest City Enterprises Inc., and landowner Ernest Mahard Jr.
The project's plans include major retail stores as anchors, residential, office, entertainment and hospitality components, small stores, and restaurants, along with parks and other city space.
Calling it the "first of many dominoes to fall," Gandy said Cinemark's decision created interest in the project from a number of retailers, as the EDC began getting inquiries immediately.
"It's definitely a major commitment and one we are very excited to have Frisco selected for," Gandy said. "We know it will be a significant draw [for more retail] if Cinemark is there."
The timeline for the construction of Frisco North is still up in the air, depending on retail commitment, Gandy said. As retailers commit, road and utility projects will get underway to the area that is currently no more than a pasture.
The city has planned a Rockhill Parkway extension west from Preston Road to the new mall.
Construction will overpass the railroad and run under the Dallas North Tollway before wrapping around Frisco North.
"There has not been a definite timeline as far as construction, but as other retailers commit to property, we will launch phase I," Gandy said.
Frisco North will be a multi-year project because of its size, but phase I could begin as early as the beginning of 2014, he said.
The Frisco City Council approved the public/private partnership in November 2012.
Cinemark Theatre
The Frisco North Cinemark Theatre will be the second in Frisco. The first is near Frisco City Hall at 5655 Frisco Square Blvd.
"We have enjoyed our existing partnership with Cinemark and are very pleased to see the expansion of that relationship with this announcement," said Frisco
Mayor Maher Maso. "We know they will provide a quality family experience in this new and exciting Frisco North project."
Cinemark officials said the anticipated 14-screen NextGen movie theatre will offer the "latest technology, cutting edge amenities and customer-preferred options all under one roof."
Amenities will include:
State-of-the-art viewing and wall-towall, ceiling-to-floor screens
RealD 3D capability
Enhanced sound systems
Self-serve concession stand offering popcorn, fountain beverages and candy brands.
Brian Ratner, president of Forest City Texas Inc. said the company could not be happier to have Cinemark on board.
"They are a first rate operator and will provide a premium movie experience to the surrounding communities of the North Frisco marketplace," Ratner said.