Alamo Drafthouse Cinema, a quirky beer-selling theater chain, has formally agreed to open an outpost in downtown Los Angeles — news that comes with a sigh of relief for a local real estate developer laboring to overhaul an aging mall.
It’s been almost three years since the Texas-based cinema group said it was coming to help anchor the transformation of the Bloc from a bunker-like indoor mall from the 1970s into an open outdoor center.
The ambitious makeover by Los Angeles developer Ratkovich Co. hit turbulence, however, running substantially over budget and a year and a half behind schedule. Prominent announced tenants such as Davio’s Northern Italian Steakhouse pulled out as Ratkovich failed to deliver space on time.
The fact that Alamo still hadn’t signed on the dotted line loomed as a potentially harsh blow to the Bloc. In addition to Macy’s, the theater chain is expected to be the biggest retail anchor driving traffic to the mall.
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