New Malco Theatre information

A Google alert informed me that the Malco theatre will be part of a retail complex and not a solitary standing building.

Business Condos USA is teaming with a regional theater chain to develop a mixed-use project in Tennessee. The 25-acre site in Smyrna, Tenn., will be jointly developed by Jacksonville-based Business Condos and Malco Theatres, which operates 37 sites in five southern states.

The project will include 133,600 square feet of retail condo space and a 14-screen Malco Theatre. The retail space will include shops and restaurants and there will be a connecting road between the retail space and the theaters. The project is scheduled for completion in spring 2008.

Business Condos President Larry Walshaw said the $17 million project will be done in two phases, with the first consisting of three buildings and 57,100 square feet of space. Business Condos is in the permitting process and has started pre-sales of the units. The first phase should be completed by the end of the year, Walshaw said, and the start of the second phase will depend on sales, which have already started.

Smyrna is due a theatre.