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Can you clarify what you mean here? Is this a good thing or a bad thing in your opinion? I'm thinking that, as a general rule, Hughes is going to allow the individual tenants to announce their own intentions as the situation permits down the road. My take on this is that Cobb must have some privileged information about the nature of the future tenants already at this point to take such a business risk by building this luxury cinema; in other words, they must already know what the rest of us have been dying to know for months even years now. So that's a good portend, right?
The article mentioned the reason for Cobb's announcement: given the two year construction timeline, they want to signal to other potential theater companies that they have cornered the downtown market going forward. There is limited sales potential for movie theaters, whereas restaurants and shops have much higher thresholds (the sum of discretionary income in the region).
Cheesecake Factory announcing (don't hyperventilate guys, this is only hypothetical) would not dissuade any of their competitors from building right next door. As a result, restaurant or retail groups have no real incentive to announce prematurely. This is why you almost never hear about restaurants until they are ready to break ground or occupy the space. Given that the onus is on the tenants, I suspect we will start hearing announcements when Hughes has reached the critical mass necessary to break ground on the first section of Phase II.
The article mentioned the reason for Cobb's announcement: given the two year construction timeline, they want to signal to other potential theater companies that they have cornered the downtown market going forward. There is limited sales potential for movie theaters, whereas restaurants and shops have much higher thresholds (the sum of discretionary income in the region).
Cheesecake Factory announcing (don't hyperventilate guys, this is only hypothetical) would not dissuade any of their competitors from building right next door. As a result, restaurant or retail groups have no real incentive to announce prematurely. This is why you almost never hear about restaurants until they are ready to break ground or occupy the space. Given that the onus is on the tenants, I suspect we will start hearing announcements when Hughes has reached the critical mass necessary to break ground on the first section of Phase II.
A business may will have as part of their lease arrangement that no similar business may open in the same development. I have had such leases.
I can just about guarantee that I'll be making the trek to this theater instead of the Regal at Sandhills three miles from my house as soon as it opens. Even if it were a standard-issue Cobb and not a dine-in, it'd still be a much better experience than what you can otherwise find in Columbia.
A friend of mine used to be a manager at the Regal at Sandhills. He told me that it was originally an Eastern Federal Theater which is why it wasn't a higher standard. He said that as soon as the theater was built the company was brought out by Regal and Regal just slapped their name on it. They said the owner of Regal were pissed at how the theater looked but concluded it not cost effective to redecorate a brand new cinema. lol
A friend of mine used to be a manager at the Regal at Sandhills. He told me that it was originally an Eastern Federal Theater which is why it wasn't a higher standard. He said that as soon as the theater was built the company was brought out by Regal and Regal just slapped their name on it. They said the owner of Regal were pissed at how the theater looked but concluded it not cost effective to redecorate a brand new cinema. lol
I'm not even concerned about the aesthetic of the theater so much as I love how quick Cobb is to throw a person the eff out of the theater for talking or using their phone during a movie. They're very nice, to be sure, but that alone is a draw. The self-serve concession stand is nice as well, they had that at the Cobb near my house in Florida. I'm sure economics has forced this has fallen by the wayside, but as recently as 2009, they wouldn't run commercials before the trailers, only soundless slide advertisements.
Funny how the people who were slamming this project just a week ago are now praising it. LOL.
I am one of them.I went over to look at the ballpark for the first time the other day. One of the staffers there walked up and graciously offered to take me on a tour which I accepted We went up and looked at the luxury boxes and areas that can be rented for events and parties and then talked about the entire development from the spirit box where you could see over much of the property. Though I am still cautiously optimistic that it will succeed I have a better idea of its potential and the impact on the city center especially with the theater announcement
In other news an old college buddy of mine invited me down to a city of Columbia Rec Center where we talked about CC and a parent chimed in about all the deficiencies with rec programs for kids in the city which many people , rightly or wrongly , feel will continue to suffer because of big ticket projects like CC along with street infrastructure in town. 😧
I read also that the Gonzales Gardens will be torn down this fall and that most of the families relocated to other parts of "downtown" along with the NE. That site will truly be a game changer for the city in terms of infill residential development
This is a great ballpark, can't wait to see it incorporated with the upcoming developments.
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