Hollywood 20 property owners announce three-phase redevelopment plan

Following an $18.1 million purchase earlier this month, the new owners of Main Plaza have revealed some insight into their plans for the 8.6-acre site.

BBC Plaza, the ownership group consisting of entrepreneurs Jesse Biter, Eric Baird and David Chessler, announced a three-phase plan for redeveloping the property in a release today.

The plans, subject to change, include a mix of smaller-scale improvements and potentially ambitious new projects for the property, currently anchored by the Hollywood 20 movie theater. In today’s announcement, the group revealed it is considering constructing a large structure on the northern end of the site.

Potential uses for that building, if it comes to fruition, include a hotel, a multi-family housing project or a conference center, according to the release. The new structure would constitute phase three of the development.

Phase one includes a series of smaller improvements, focusing largely on the existing retail properties. Plans call for upgrades to the retail space along Main Street and on the first floor of the mall, redesigned entrances for the mall space and an improved façade for the gym space that currently houses the YMCA.

Phase two consists of rehabilitation to the movie theater. Regal Cinemas, which operates Hollywood 20, is currently leasing that space. Regal’s lease is set to expire in early 2017.

BBC Plaza issued a public request for proposals seeking an architect for phase one of the project. The group will hear proposals on Dec. 22, and quickly move forward with the winning bidder, the release states. Interested parties can apply for a time slot by emailing [email protected].

The group has expressed its belief that, if properly revitalized, the property can revitalize the east end of Main Street.

“As an anchor to Main Street, this property deserves to have a modern look, improved retail storefronts, improved mall entrances and an updated and improved interior,” the release states.