Theater chain submits plans for 40th Street

After nearly three years of waiting, Penn finally may get the independent film-oriented theater it has been craving.

Movie giant National Amusements has confirmed that an announcement concerning the stalled theater project at 40th and Walnut streets is forthcoming, and that the theater will most likely have an independent flavor as was originally planned.

"National Amusements has submitted a proposal to the University," officials of the theater chain said in a statement. "We're expecting to make an official announcement in the next few weeks."

John Fry, Penn's executive vice president, did not returned repeated calls for comment.

Construction has already resumed at the site, which was originally intended to house a theater and restaurant complex operated by the Robert Redford's Sundance Cinemas.

Signs at the construction site bear the name of Philadelphia-based Intech Construction, Inc. Officials with Intech confirmed that the company has been hired by the University to continue developing the site, but they refused to comment further on the construction.

In August 1994, a United Artists theater at the site closed down due to the opening of the United Artists theater at 69th Street Terminal and the UA Riverview Stadium theater.

Penn brought in Sundance in 199' to develop the site. The original plan was to be financed by Boston-based General Cinemas.

But in October of last year, General Cinemas filed for bankruptcy and backed out of the deal. Left with no financial partner, Sundance Cinemas quickly followed suit.

With financial problems plaguing the theater industry nationwide, the future of the project -- which was to be the cornerstone of Penn's 40th Street revitalization effort -- has remained uncertain.

But in February, National Amusements emerged as a potential developer.

The Dedham, Mass.-based company owns and operates theaters in the United States, the United Kingdom and South America.

But because National Amusements' specialty is mainstream fare, observers have questioned in recent months whether the potential partner would maintain the original mission of Sundance -- to provide a unique movie-going experience that would draw patrons from across the city and suburbs.

The issue has remained a concern for members of the University community and the surrounding neighborhoods.

These concerns, however, appear to have been put to rest somewhat, as an industry source has indicated that the new theater will be operated by Cinebridge, the new independent film division of National Amusements.

Cinebridge is scheduled to open its first theater next month in Los Angeles.

The source also said that Penn's new theater will be named "The Bridge" after its sister theater in California.

"The Bridge is a new entertainment concept that is opening up in Los Angeles next month," the source said. "That is what's in mind for [the Penn] project."

National Amusements officials have said that their theater at Penn will set it apart from others in the area.

"The proposal we have put forth contains a unique and innovative concept that we are very excited about," National Amusements spokeswoman Jennifer Maguire said.

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