Second six-month extension granted for downtown theater developers
A second six-month extension has been granted for developers of a proposed downtown Grand Rapids movie theater multiplex.
The city’s Downtown Development Authority approved the extension Wednesday.
The project on the corner of Oakes and Ionia was first presented as a 10-screen theater in 2012.
Plans discussed last March expanded the Celebration Cinema-branded venue into a mixed-use facility with retail and residential space.
The parcel is currently a city parking complex.
The extension gives Jackson Entertainment, LLC, until the end of April 2016 to move forward on development.
A non-refundable $60,000 deposit was included in agreement terms.
The parties first entered into a two-year purchasing option agreement in April 2012.
That option was extended by a year in April 2014, and by an additional six months last March.
A city memo on the project notes work on long-term parking strategies as one reason behind recent delays.