The permanent closing of an AMC movie theater in northeast Raleigh due to the coronavirus pandemic has made way for a new apartment development.
Raleigh-based Dominion Realty Partners is set to demolish the theater at 5502 Atlantic Springs Road and build a 264-unit apartment complex over it and the surrounding parking lot, including an additional parcel of land. The complex would total over 10 acres and is currently titled the Atlantic Springs Apartments, development plans filed with the city show.
Developers plan to build 174 one-bedroom and 90 two-bedroom units totaling 236,000 square feet across five three-story apartment buildings and a clubhouse.
DRP purchased the two pieces of land for $4.43 million in November last year from The RMR Group, a Massachusetts-based real estate firm.
DRP and The RMR group did not respond to requests from The News & Observer for additional details. Other properties owned by DRP include the First National Bank tower and the PNC Plaza towers in downtown Raleigh and other apartment communities around Wake County.
The decades-old AMC Classic Raleigh 15 theater closed in March 2020 along with other AMC theaters when the first businesses began to close to avoid spread of the virus. It closed permanently in June, according to the company’s site.
The theater originally opened in 1989 as the Carmike Cinema 7.
Other Raleigh apartment developments in the works include the Litchford 315 development which will have hundreds of affordable housing units on Litchford Road and the upcoming 865 Morgan project in downtown, which will be built on the former site of the Goodnights Comedy Club.