HOUSTON — Vista Equities Group, a Houston-based developer, together with equity partner Amstar Group, is moving forward with the final phase of LaCenterra at Cinco Ranch, the mixed-use project located along the Grand Parkway.
The centerpiece of this last phase will be a 37,000-square-foot Alamo Drafthouse Cinema featuring eight auditoriums and an adjacent bar with outdoor patio seating. This dine-in concept aims to offer a full entertainment experience, combining film screenings with on-site dining and bar service.
In addition to the cinema, the final phase includes roughly 7,500 square feet of additional retail space and a six-level parking garage to support visitors and residents. Once complete, LaCenterra — situated about three miles south of Interstate 10 — will encompass approximately 410,000 square feet of retail, dining and entertainment space.
LaCenterra has been developed in stages. About a year prior, a Trader Joe’s supermarket opened within the project, adding a prominent grocery anchor for the neighborhood. Martin Fein Interests also completed a four-story, 271-unit multifamily building on the site, known as The Grand at LaCenterra, which contributes residential density and foot traffic to the center.
Vista Equities Group, founded in 1985 and led by longtime Houston developer Woody Mann, is the project developer. Denver-based Amstar Group, a private equity firm, is partnering on the development. Triple Tap Ventures LLC will own and operate the Alamo Drafthouse locations for the Houston area, as well as in Lubbock and El Paso.
Construction on the dine-in cinema was scheduled to begin in March, with an anticipated opening in the spring of 2018.
Jan. 16, 2017 Realty News Report Copyright 2017