A petition effort launched by the owner of the Lion and the Rose Bed & Breakfast, Steve Unger, and Lloyd Center neighbors appears to have been successful, as Regal Entertainment Group has announced plans to continue to operate the existing Lloyd Center 10 and IMAX theaters until a new theater is opened. Discussions are underway with Cypress Equities, the management company for Lloyd Center, regarding new theater options at the mall.
“We will remain open at the Regal Lloyd Center 10 and IMAX,” said Jerry Grewe, vice president of real estate at Regal Entertainment Group. “Currently, we have many years remaining on our long-term lease, but with the local revitalization efforts we are reviewing various potential options for a new replacement theater that will continue to provide an exceptional movie-going experience for our guests.”
Cypress Equities is updating the interior and exterior of the historic shopping center at the heart of the Lloyd District, in order to modernize what was once the largest mall in the country, when its doors opened in 1960.
Both Cypress Equities and the Regal Group have expressed a commitment to continuing a strong presence in the Lloyd District – and acknowledge a recognition of the benefits and advantages of maintaining a vibrant movie house in the community.
“It’s an exciting time, with the modernization of the acclaimed Lloyd District,” said Michael Wheat, managing director of Cypress Equities. “Due to partners like Regal Entertainment, opportunities to redevelop the Lloyd Center, while focusing on reconnecting with the center’s history, are possible.”