LOS ANGELES-The long-stalled $100-million Queensway Bay project is moving forward again, with Crown Theatres LP inking a deal with the developers to anchor the entertainment and retail project.

Two previous theater tenants dropped out due to bankruptcy last year, putting the project in serious jeopardy. Ground-breaking has been stalled since then due to the lack of an anchor tenant. However, the signing of Crown Theatres is breathing new life into the development by spurring leasing activity at the project.

“Based on our agreement with Crown Theatres, we are moving forward to finalize leases with a wide range of specialty retail tenants and restaurants,” says Eric Mallory, SVP of development at Ohio-based Developers Diversified Realty Corp., the project’s builder.

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