Legends theater to become AMC
The Unified Government of Wyandotte County and Kansas City, Kan., announced today that Legacy Development plans to purchase the 14-screen movie theater at the Legends Outlets Kansas City in partnership with Kohlberg Kravis Roberts & Co. L.P.
The purchase paves the way for redevelopment of the property under the direction of a new theater operator, AMC Entertainment.
"We couldn't be more excited," Wes Grammer, chief development officer for Legacy Development, said in a news release. "The Legends is a great project and we relish the opportunity to deepen our involvement in it."
The transaction is expected to close on Friday, at which time AMC Theatres, which is based in Leawood and currently operates five locations in the Kansas City metro area, will take over management of the facility, with renovations planned for 2016. Operations of the theater will continue uninterrupted during the renovations.
Legends 14 Theatre is currently owned by the Unified Government and has been managed by Phoenix Big Cinemas, LLC since its opening in 2005.
"Our investment in the theater as the anchor attraction to the surrounding Legends shopping center is an example of our commitment to provide an important amenity to this community," said County Administrator Doug Bach. "The sale of the theater paves the way for private sector re-investment in the 10-year old facility and insures that both residents and tourists will be able to enjoy this asset for years to come."
Bach also said Phoenix has been an outstanding partner during the decade-long relationship with the Unified Government.
"Our purchase agreement with KKR also calls for (AMC) to seek recommendations from Phoenix to interview existing theater employees," he said. "It is our understanding that the current management and many employees will be retained by (AMC)."