PLATTSBURGH -- A 12-cinema multiplex being built on the north end of the Town of Plattsburgh is projected to be open for the upcoming holiday season.

EuroWest Companies President Peter Edelmann said the company closed on about $4 million in financing with Oneonta-based Wilber National Bank.

That allowed Conroy and Conroy to resume construction, which was suspended in late spring.

"Now, we can finish the job," Edelmann said.

The theater could be open by Thanksgiving, he said.

LOAN APPROVED

Edelmann said financing was held up by tough economic conditions nationwide. He pushed for a local bank to finance the project, but no one stepped up.

"Wilber (National) Bank happened to believe in us, the project and Plattsburgh."

THEATER CHANGES

The theater will now have 1,684 seats, down from the original proposal for about 2,000. That is the result of a decision to use wider seats, Edelmann said, to enhance the viewers' experience.

The two largest theaters will have about 280 seats each and a stage area for live music and theatrical productions.

The theater is 65-percent complete. The remaining work consists of electrical, plumbing, drywall and sound system installation.

PROJECT INTEREST

Edelmann is working with the family of Frank Akey, former owner of the North Country Shopping Center, and Vermont-based Pomerleau Real Estate to develop about 65 acres near the theater.

The master plan presented to the Town of Plattsburgh Planning Board calls for multiple buildings that will cover about 571,000 square feet. By comparison, the Target building under construction at Champlain Centre is about 127,000 square feet.