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Old 06-23-2017, 12:07 PM
 
132 posts, read 117,072 times
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Now this is big!

Emagine aims to bring megaplex theater to downtown Detroit | Crain's Detroit Business
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Old 06-23-2017, 01:59 PM
 
Location: Detroit
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Best news I've heard all week. I remember him saying last year that he wanted a Emagine theater downtown but it's going to be a little more tricky than the suburbs. But even if the downtown population is kind of small right now, it's right in the middle of an underserved market.
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Old 06-26-2017, 11:11 AM
 
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Yes, interesting news.

Ironically just in the past few weeks, they said they are likely going to drop plans for the proposed Emagine in Hartland at M-59 & US-23. Basically, they were asking the township for tax abatement to the tune of $150-200k per year and the township and county said no, we are giving abatements to a movie theater complex. They also found it hard to believe this would make or break the business case for the theater.

Appartment this is standard process for Emagine so I'm sure they will be asking Detroit for some type of abatements.
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Old 06-26-2017, 01:24 PM
 
Location: Michigan
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Quote:
Originally Posted by DTWflyer View Post
Yes, interesting news.

Ironically just in the past few weeks, they said they are likely going to drop plans for the proposed Emagine in Hartland at M-59 & US-23. Basically, they were asking the township for tax abatement to the tune of $150-200k per year and the township and county said no, we are giving abatements to a movie theater complex. They also found it hard to believe this would make or break the business case for the theater.

Appartment this is standard process for Emagine so I'm sure they will be asking Detroit for some type of abatements.
I've read that movie theaters have pretty tight profit margins. They only really make bank on the big summer blockbusters but lose money on pretty much every other movie (most of the ticket revenue goes back to the movie studios). Concessions is what really keeps them afloat. It's also increasingly common to have a small bar or restaurant within the lobby of a multiplex.

Emagine seems to going after new-growth areas where's there's little to no competition. The closest multiplex to Hartland is an MJR in Brighton. According to Crain's, Emagine is still pursing Hartland or, at the very least, still want a location in that part of town.

I feel like the tax abatements are probably so they can put in something gimmicky like a bowling alley or 5-star restaurant or something. Yea, not getting the tax breaks wouldn't break the theater, but they want to want to have some revenue sources outside of just the movies and the concessions.
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