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Altamonte Mall Plans $26M Expansion/Renovation

ORLANDO-Chicago-based General Growth Properties Inc., owner of the 28-year-old, 1.3-million-sf regional shopping center, seven miles north of Downtown Orlando, has contracted with AMC Entertainment Inc. to jointly develop an 18-screen movie theater that has been on hold for the past two years.

By Alex Finkelstein | Updated on April 23, 2002

ORLANDO-The 1.4-million-sf, 28-year-old Altamonte Mall, second oldest and second largest regional shopping center in metro Orlando, is scheduling a $26 million facelift for first quarter 2003, its first renovation in 12 years.

Mall owner Chicago-based General Growth Properties Inc. has contracted with AMC Entertainment Inc. of Kansas City, MO to jointly develop an 18-screen movie theater that has been on hold for the past two years.

The size, seating and hard cost of the theater weren’t disclosed. But area construction industry estimators tell GlobeSt.com on condition of anonymity the project with stadium seating will probably be built for at least $150 per sf. Completion is tentatively scheduled for third quarter 2003.

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