The Flower Mound Town Council on Monday night approved a Chapter 380 Incentive Agreement for Austin-based Moviehouse & Eatery, providing $390,000 in development fee waivers and sales tax rebates.
Moviehouse & Eatery plans to build an upscale dine-in movie theater at the northwest corner of Lakeside Parkway and FM 2499 in the Lakeside DFW development.
Set to open in May 2015, the theater is expected to provide a net benefit of $1.61 million in sales tax revenue over a 10-year period.
The agreement also provides an $80,000 reimbursement from the town for construction of a turn lane on FM 2499.
“After several months of hard work, I am so excited to say Moviehouse & Eatery is officially coming to Flower Mound,” said Flower Mound Mayor Tom Hayden. “Not only will this be a cornerstone of the highly-anticipated Lakeside DFW mixed-use development overlooking Grapevine Lake, but will serve as a great destination for families looking to have a delicious dinner and see the latest blockbuster movie. Based upon Austin’s success, we anticipate more than 300,000 visitors annually to the Flower Mound location.”
One of the many unique features of the upcoming Flower Mound Moviehouse & Eatery is the ability to reserve a reclining seat in any of the richly appointed auditoriums. In addition to having eight screens, Moviehouse & Eatery will also feature full food and beverage service in all auditoriums as well as an area reserved exclusively for dining without seeing a movie. The theater will have a full-size bar including specialty cocktails and several local beers on tap.
“I can’t wait for Moviehouse & Eatery to open its doors in Flower Mound,” said Flower Mound Economic Development Director Mark Wood. “I look forward to a fantastic film experience at this upscale theater and many years of success in our community.”