Maya Cinemas to purchase downtown theater

By Andrew Edwards
Staff Writer

SAN BERNARDINO - There's a sequel planned for the downtown movie theater.
Los Angeles-based Maya Cinemas is now poised to do business at the Fourth Street theater that until recently housed CinemaStar.

The City Council -acting as the commission that oversees redevelopment - approved the $4.6 million sale of the theater property Monday night by unanimous vote.

The theater building has been vacant since late September when CinemaStar's operators shut down. It was something of a surprise ending for San Bernardino movie goers.

Maya Cinemas plans to renovate the entire theater, which may reopen as early as Feb. 27.

Company CEO Moctesuma Esparza said his company will need to create a new experience at the theater in order to attract CinemaStar's lost business.

"When we open the theater again, it's got to look and feel different," he said. "It's got to have enough pizzazz. The people are going to feel differently (about the redesigned cinema) than about the old theater."

Maya Cinemas emerged as the heir apparent to CinemaStar in late October when the City Council granted the firm an exclusive right to negotiate with San Bernardino officials to buy the cinema.

Nevertheless, representatives of two other movie exhibitors came to Monday's City Council meeting to ask for the council to give them a chance to buy the theater.

The San Bernardino Economic Development Agency owned the movie theater while CinemaStar was still in business. Maya Cinemas' purchase of the property paves the way for San Bernardino officials to exit the business of socialized film exhibition.

The deal is also expected to lead to new development in the area, as Maya Cinemas have asserted that the company plans to not only refurbish the movie theater but to complete a multi-phase project involving new retail and restaurants.

Esparza promises that the redesigned theater will feature an Imax screen for large-format movies.

The City Council held off of its approval of the plan in November because of concerns about the financing plan. EDA officials plan to seek more than $8 million in loans from the U.S. Department of Housing and Urban Development to help Maya remodel the Fourth Street theater.

Interim EDA chief Emil Marzullo said Maya's anticipated cash flow is expected to repay the loan, which will be leveraged against San Bernardino's ability to receive Community Development Block Grants.

The city receives about $3.7 million worth of CDBG funds per year. The money can be used for a variety of purposes.

Marzullo said he's confident that Maya will hold up its end of the deal. He does not expect San Bernardino to lose any grants because of Monday's council vote.
"The chances of that are slim and none," he said.