The Collective, a new $15 million development on the corner of Baseline and Rural, has started construction. The Collective totals 50,650 square feet and is anchored by the second location of the Alamo Drafthouse Cinema. The first Alamo Drafthouse opened in Chandler in 2016.
Phoenix-based DBM Ventures is developing the project and they are looking to add restaurants, retail shops and a fitness center to go along with Alamo. The Collective is scheduled to open early next year.
Next door, JLB Partners is building a new 367-unit apartment complex called The Harper next door to the Alamo-anchored development. The units are slated to welcome new residents in 2018.
Both of those projects are redevelopment of the closed Lake Country Village shopping center at Rural and Baseline.
Tempe Mayor Mark Mitchell welcomed the new developments.
“Lake Country Village is a longstanding part of our community. As a kid growing up in Tempe, I was there nearly every weekend with friends. The revitalization of this project brings it back to life with new shops and great restaurants that are sure to attract residents and visitors alike. From Alamo Draft House Cinema to the new residential – I’m excited to be providing residents and potential residents alike this kind of live, work, play development,” Mitchell said in a statement.
Read the full story at the Phoenix Business Journal