A resolution between the City of Arvada and Harkins Theatres ensures that the project to renovate the movie theater at 5550 Olde Wadsworth Blvd. in Arvada moves forward.
Harkins Theatres announced April 5 the acquisition of Landmark Theater’s Olde Town 14 movie theater in Arvada. The company announced plans to upgrade and remodel the theatre; however, Harkin’s Theatres told the city there was a $500,000 gap needed to be filled in order to allow the purchase deal to move forward.
To fill that gap, Harkins Theatre requested that the City of Arvada provide financial assistance. Council voted 6-0, April 17 to approve the agreement. Councilman John Marriot was absent.
The specific agreement is for the city, after granting Harkins the certificate of occupancy for the renovated theater, to refund 100 percent of the building use tax and admissions tax (after the first $100,000 is collected) for a period not to exceed eight years or $500,000 is remitted back to Harkins Theatres, whichever comes first.
Arvada City Manager Mark Devon called this a development incentive and said that his understanding was that if the city of Arvada did not agree to the deal, then Harkins Theatre would not move forward with renovatons and reopening of the theater.
Harkins Theatres plans to spend between $10 and $11 million to remodel the building, according to Mike Bowers, president of Harkins Theatres.
Renovations will include plush, leather reclining seats in all auditoriums; reserved seating in all auditoriums; in-lobby bar featuring cocktails, wine and beer, including local craft favorites; state-of-the-art laser projection and digital sound; new luxury finishes throughout the theatre; and wall-to-wall and curved screens.
The theater renovations will also boast a gourmet concession stand with a large menu including hot food selections such as Nathan’s Famous mini corn dogs, White Castle cheeseburgers, and Oreo churros.
Bowers said he hopes to start the remodel in the coming weeks and have the theater open by the holiday season. The theater is currently closed.
“I am thrilled that a company of your quality is coming in and making the investment in our property,” said Arvada Mayor Mark Williams at the April 17 meeting. “We’re pleased that in addition to your decision to come to our community, you’re making a decision to make quality investments.”
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