Merced Mall to see new 14-screen theater, as entertainment giant Cinemark inks lease
Merced residents for some time have asked city officials for an update on the Merced Mall, which saw long-time plans for a revamp stall due to the COVID-19 pandemic.
Project representatives shared the latest developments at Monday’s City Council meeting, revealing that a lease has been executed with Cinemark Theatres for a new cinema.
The new theater, expected to be built inside the mall, is meant to be a catalyst for the Merced Mall Renovation Project as a whole, said Bill Kenney, principle of The Kenney Company and a representative of Codding Enterprises, the mall’s owner.
Construction is likely at least 18 months out, Kenney said.
“This commitment is literally the foundation, the cornerstone, for the redevelopment of the Merced Mall,” he told City Council on Monday.
The lease represents the procurement of a significant anchor intended to attract both patrons and other businesses to the renovated mall.
“That project is really important to the community, and really can be a unique amenity as well,” Merced Mayor Matt Serratto said Monday.
Theater to be larger, more modern — if cinema survives COVID-19
The 56,000 square-foot theater is expected to house 14 movie screens, about 1,377 seats — including reclining chairs — and state-of-the-art audio and video equipment, according to Kenney.
Under the plan, the nearby Regal cinema outside the mall is expected to eventually be leveled and potentially turned into retail space, Merced Director of Economic Development Frank Quintero told the Sun-Star.
The new theater space in the mall would be over twice as large as the old 22,000-square-foot cinema.
Despite the “exciting news,” Kenney acknowledged that challenges and uncertainty must be overcome before the proposed theater becomes a real part of the renovated mall.
A major question yet to be resolved is the future of the theater industry after COVID-19.
“Will people go back to the movies, or will they stay home and subscribe to the many new streaming services?” Kenney asked.
If patrons don’t return, he said, it will be outside of project leaders control if cinemas are forced to close and theater operators go bankrupt.
“Obviously, we don’t believe that will happen or we wouldn’t be investing the time, or more importantly the capital, to move this project forward,” he said.
Other updates to the renovation project include finalization of construction plans for the mall’s east side, which will be torn down and rebuilt.
Separate from the mall revamp is another project aimed at giving the former Sears building a facelift.
The large area is being developed into a multi-tenant space with different kinds of businesses. Although it is a separate project, Kenney said each renovation will help the other be a success.
The Merced Mall Renovation Project was conceptualized as far back as 2016. Progress was expected to be further along by 2021, but across the country COVID-19 closed malls and shuttered business inside.
Although the project has been delayed, project leaders say the Merced Mall’s financial situation is better off than many others.
The Codding family, which owns the mall, is not one of the major national mall chains and has been able weather the financial firestorm caused by the COVID-19 crisis, Kenney said.
“The commitment we made to the City of Merced stands,” he said.
