The Cupertino Courier
News
The Vallco movie complex is delayed
By Hugh Biggar
Coming soon, a theater near you--or not.
That's the situation at Vallco Fashion Park, where the opening of a 16-screen multiplex has been pushed back to March. Vallco and Cupertino officials had hoped to have the 3,500-seat complex open by Dec. 20, in time for the holiday movie season.
Mike Rohde, Vallco's general manager, informed the city council of the March opening date at its Dec. 6 meeting.
"Like a lot of Vallco projects, it seems to be a case of hurry up and wait," said Cupertino City Manager Dave Knapp.
"I'm disappointed; I had hoped to do my Christmas shopping at Vallco," said Vice Mayor Patrick Kwok.
The movie theaters, which will be operated by the AMC chain, are considered a centerpiece of Vallco's revitalization--a magnet that will draw crowds to the mall and encourage people to stay and shop. The theaters are being built on what used to be the roof of the mall. After the theaters open, escalators will bring customers up through the mall's atrium.
Cupertino officials hope the movie theaters will bring in additional sales tax dollars.
The city council last January approved a fast-tracked construction schedule for the multiplex. At the time, city officials said an accelerated project was necessary to secure major tenants that would revitalize the ailing shopping center and boost sales tax revenue.
According to the city, the movie theaters at Vallco are expected to bring in about $2,000 per screen in sales tax from concessions, and attract an additional 1.5 million customers to the mall.
A regional shopping destination when it opened in 1976, Vallco Fashion Park has declined in recent years, due in part to changing shopping mall designs and shopping tastes.
Vallco is the largest single sales-tax generator for the city, but revenue has declined from 25 percent to 11 percent in recent years. It's hoped that a renovated Vallco will increased sales tax revenue from $1.2 million to $4 million annually.
Kwok said he had been told the AMC chain asked for a later start date to allow for the interior renovation of the mall. A new food court and bowling are planned, following the opening of the theaters.
"They want to roll out the red carpet," Kwok said.
The delay in the movie theater opening is the latest setback for the mall.
Last March, a construction crane fell on a bridal store at Vallco, scaring customers but causing no injuries. The accident, which is under investigation, is believed to have been caused by high winds.
Although Vallco remains open for business, shoppers have had to navigate construction scaffolding and water leaks. The vacancy rate for retail stores at Vallco is currently about 50 percent. Rohde said Vallco officials hope to have a 75 percent occupancy rate by the end of 2007, but retailers are likely to wait to move in until the movie theater opens.
"For them the sooner the better," Knapp said.. "The sooner the theaters open, the sooner Vallco can start to attract tenants."
