Cinépolis Pulling Out Of Loudoun's Avonlea Development As Peterson Starts From Scratch
Peterson Cos. was unable to gain enough momentum to move forward with its 28-acre Avonlea Town Center project in Loudoun County, and it is now returning to the drawing board.
The movie theater chain that had agreed to anchor the project, Cinépolis, did not want to open without a large complement of restaurants and retailers, and Peterson is scrapping the plans it had for the development, the Washington Business Journal reports.
Cinépolis could potentially return to the project when it gets back off the ground, but for the time being it is out of the deal. Peterson had also been in talks with the restaurateurs behind The Wharf's Mi Vida to open at the project, but that deal has fallen through.
The original plans for the 28-acre site included the movie theater, a 32K SF health club, a 40K SF grocery store, 40K SF of office and 120K SF of additional retail. Peterson paused the project in May 2017 as it looked for more tenants, but later signaled it would move forward with its plans in phases.
Peterson is now working on new plans for a mixed-use development with residential, office, retail and entertainment components. It will include the 28-acre Avonlea site plus an adjacent 50-acre property.
