HOUSTON — Houston‐based developer Vista Equities Group and Amstar Group, its equity partner, are preparing to start development on the final phase of its LaCenterra at Cinco Ranch mixed-use development on the Grand Parkway.
The last phase will be anchored by a 37,000 SF Alamo Drafthouse Cinema, which will have eight auditoriums and an adjacent bar with outdoor patio seating.
LaCenterra’s final phase will also include 7,500-SF of retail space and a six-level parking garage. When completed, LaCenterra, which is three miles south of Intertate 10, will have 410,000-SF of space. About a year ago, a Trader Joe’s grocery opened in the project. Martin Fein Interests also developed a 271-unit, four-story multifamily building there, called The Grand at LaCenterra.
Vista, founded in 1985, is led by veteran Houston developer Woody Mann. Denver-based Amstar Group, a private equity group, is a partner in LaCenterra. Triple Tap Ventures LLC owns and operates the Drafthouse Cinema locations in the Houston metropolitan area, Lubbock and El Paso.
The dine-in cinema will be under construction in March and it is expected to open in the Spring of 2018.
Jan. 16, 2017 Realty News Report Copyright 2017