Theater to be part of $175 million complex
TORONTO — Canuck exhibitor Famous Players announced plans Wednesday to build a nine-screen, 3,100-seat movie theater that will be part of a planned $175 million cinema, retail and condo complex in downtown Toronto.
Famous Players’ share of the development will be about $10 million. The proposed development, in the middle of Toronto’s most upscale shopping district, will be at the site of the historic University Theatre, the shell of which has stood empty for the last 12 years.
The University’s frontage will be incorporated into the new complex. Pending municipal and corporate approvals, construc-tion is set to begin in the spring and the opening is scheduled for the latter part of the year 2000.
Viacom-owned Famous Players has been on an aggressive expansion drive for the last several years. November-December is scheduled to be a particularly busy time, with 10 new theaters set to open across Canada, with 119 screens and more than 34,000 seats. Of that, 39 screens and 11,500 seats will open in the Toronto area.