Henrietta developer envisions more than just cinema on Regal property

The developer who created the now-closed Regal Henrietta cinema nearly 30 years ago has reacquired the property and has plans for significant new construction.

Scutti Enterprises Inc., through subsidiary Henrietta, LLC, paid $2 million to Realty Income Properties 9, LLC for the building and 11.92 acres of land at 525 Marketplace Dr. The deed was filed on Friday with the Monroe County Clerk’s office.

“We built it, sold it and now bought it back,” Scutti Enterprises chair Kimberlie Glaser said.

Regal Cinemas closed the theater in June amid financial reorganization plans. The company has since emerged from bankruptcy.

Scutti Enterprises had been eyeing the property throughout Regal’s reorganization, devising new plans for not just the cinema but also the surrounding vacant land, Glaser said.

The real estate company, which owns three other prominent shopping plazas in the metro area, intends to build apartments and an extended stay hotel, and may even reactivate the theater — with Regal possibly returning as the tenant.

The companies were expected to discuss possible options for a return during a conference call this week.

With the UR Medicine Orthopaedics & Physical Performance Center located a half-mile to the west within The Marketplace Mall complex, Glaser and Scutti chief financial officer Gregory Kimber believe there will be demand for an extended stay hotel, and that the area needs either workforce rate or senior apartments.

“We want it to be something that’s good for the area,” Glaser said.

The cinema building offers many options. “It could be a grocery store, it could be another business or office, or it could go back to being a movie theater,” Glaser said. “It would be best to keep it as a theater. We want to get something in there really fast, we don’t want an empty building.”

Glaser said her firm intends to submit plans to the town of Henrietta in the coming weeks or months.

Scutti Enterprises also owns and manages Jay Scutti Plaza on Hylan Drive in Henrietta, where construction is underway for a 24-hour Starbucks, Metro Mattress and Wing Stop; Lowe’s Plaza on West Ridge Road in Greece; and BayTowne Square in Webster.

— Kevin Oklobzija, Daily Record Staff