Alamo Drafthouse, the quirky Austin, Texas-based theater chain known for its special events, theme movie nights and in-seat food and drink service, is expected to plant its flag in downtown L.A.
Saeed Farkhondehpour, developer of the Medallion mix-use project, said Alamo recently signed a letter of intent to open a 600-seat, eight-screen theater on a vacant lot near the corner of 4th and Main streets. The theater would include food and beverage service and would open in the next 18 to 20 months, he said.
Brandy Fons, a spokeswoman for Alamo, confirmed the company has "had discussions" regarding opening a theater downtown but said, "No formalized agreements" have been reached.
But Farkhondehpour said Alamo had signed a letter of intent that is expected to close in the next 30 days.
The agreement calls for him to build the 25,000-square-foot theater next to the Medallion lofts as part of a larger development that would include restaurants and shops. The site is close to the historic Broadway theater district, which city officials and developers are working to revive.
"We want to have a theater to bring all the foot traffic and bring the whole place alive," Farkhondehpour said.
The Alamo has launched its own film distribution company and is expanding nationwide, opening new theaters in New York and Denver and has been eyeing locations in Los Angeles for more than a year.
The letter of intent was first reported by Los Angeles Downtown News.