09/25/03
Times Business Writer
ginah@htimes.com
World Famous Bridge Street, Cummings Research Park's new commercial district, has its first tenant - a movie theater.
Regal Cinemas will open a 16-screen theater in the project, said Alex Hardy, business development manager for Los Angeles-based developer O&S Holdings. He said construction of the theater, as well as other Bridge Street stores, is scheduled to begin by next summer and be complete in about two years.
"We're very close to making more of these announcements," Hardy said Wednesday. He declined to give any details.
Plans for Bridge Street, a 1.7 million-square-foot town center at Research Park Boulevard and Old Madison Pike, call for three or four apartment or condominium towers, a hotel conference center, 500,000 square feet of office space and a promenade of shops and restaurants over a man-made lake.
Regal Cinemas, based in Knoxville, already has two theaters in Huntsville - on South Memorial Parkway near Joe Davis Stadium and at Madison Square Mall. Gary Safady, managing partner of O&S, said he did not know if Regal planned to close one of the existing theaters.
John Roper, senior vice president for Regal, did not return a call Wednesday seeking comment.
"We have been proud to be a part of the Huntsville community for many years and are excited about moving to Bridge Street," Roper said in a news release.
The new theater will have stadium seating; high-back, recliner seats; and a computerized box office, the developers said.
Regal is building a cinema in another O&S town center development - Louisiana Riverwalk in Bossier City-Shreveport, La. Other stores coming to Riverwalk include Bass Pro Shops, Tommy Hilfiger, Joe's Crab Shack and Hooters, Safady said.
Safady said interest in Bridge Street has been high.
"We are very pleasantly surprised at the demand we're getting from retail and restaurants," he said.
O&S Holdings was founded by Safady and his cousin Paul Orfalea. Orfalea is best known as the founder of the Kinko's chain of copy shops. Safady is a real estate veteran and has developed properties throughout the United States.
Hardy was director of Cummings Research Park for four years but joined O&S Holdings in March to manage the project locally. The Bridge Street development was announced Dec. 19.
