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O’Neill Properties Signs Muvico Theaters to Uptown Worthington
O’Neill Properties Signs Muvico Theaters to Uptown Worthington The 92,000-square-foot, 14-screen theater, which delivers a new movie-going experience, is the next major tenant added to the Main Line mixed-use development ICSC Spring 2007, Las Vegas—May 22, 2007—O’Neill Properties Group today announced it has completed a deal with Muvico Theatres movie and entertainment complex to anchor Uptown Worthington, a 1.6 million-square-foot mixed-use community, strategically located in the affluent Philadelphia suburb of Malvern, Pa. Muvico, the world’s premier movie experience, will lease 92,000 square feet. In February 2007, O’Neill Properties announced Wegmans Food Market will anchor the development with a 140,000-square-foot flagship store. “Movie theaters and cultural events have become a necessary component of the new urban town center and shopping experience, and we’re thrilled that Muvico has agreed to become part of the experience we are establishing at Uptown Worthington,” says Brian O’Neill, Founder and Chairman of O’Neill Properties Group. “Today, movies define who we are as a culture, and Worthington's target market wants more than just a movie. Muvico does just that by offering customers the next level of entertainment, and a night they’ll want to relive again and again. Muvico reinforces Uptown Worthington, its brand, and the people it serves.” Muvico will feature 3,800 seats, 700 of which will be premier seating fashioned as luxury box seats of major venues, in fourteen all-digital auditoriums. Other amenities include a street-level box office, a 5,000-square foot restaurant and cafe, reserved seating, live events, a child care center, and valet parking service. Ever increasingly busy parents now have the opportunity to enjoy premium seating upstairs while their kids enjoy a movie downstairs. In addition, each theater can be rented out for special events, corporate functions, and business presentations. “The clientele, size, location, and excitement generated by Uptown Worthington is what attracted us to be part of this historic development on Philadelphia’s Main Line,” says Michael F. Whalen Jr., President and CEO of Muvico. “We built our reputation by combining all the components of an enjoyable evening out for our guests—fine dining, valet parking, and child care. Our Grand Palace theme brings our customers back to the Golden Age of movies when they were experienced, not just watched.” When complete in spring 2009, Uptown Worthington will transform the former Worthington Steel Factory into a 100-acre live, work, and play community that incorporates the architectural integrity and design of New Urbanism principles. Uptown Worthington will house a mix of uses, including retail, office, and residential, in a completely underserved area to provide a traditional town experience. The community will include 745,000 square feet of retail, restaurants, and entertainment; 753 multi-family homes; and 185,000 square feet of Class A office space. The development will also include an elegant town square, a connection to and extension of the Chester County Rails-to-Trails bike path, and the re-opening of Little Valley Creek, which is currently enclosed in a pipe under asphalt paving. Once complete, Uptown Worthington projects an estimated 7,000,000 visitors per year. “By agreeing to be part of this visionary mixed-used development, Muvico is putting its stamp on Uptown Worthington, the most dynamic community to be constructed in Southeastern Pennsylvania,” says Denver McGarey, President of The McGarey Group who represented O'Neill in the deal. “Muvico consistently out-grosses its competition because it is very selective about its locations. Worthington will be treated to an integrated entertainment experience—the Four Seasons of movie theaters.” ABOUT O’NEILL PROPERTIES GROUP O'Neill Properties is a leading national real estate investment and development company headquartered in King of Prussia, Pa., which is developing a portfolio it currently values at over $1 billion. The company focuses on development of Class A office space and luxury multi-family residential housing in the Northeast through the recycling and renovation of surplus brownfield industrial and military real estate. The portfolio includes significant residential, mixed-use, and commercial land development projects, which include the development of over 10,000 residential units, and when completed will increase the portfolio’s value to more than $4 billion. O’Neill Properties has completed development of over 13 million square feet of office space, 700 apartments, and currently has over 2 million square feet of mixed-use and residential developments under construction.
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