Developer Backs Out of Theater, Retail Project
SAN FERNANDO — In a surprise move, Burbank developer Victor Georgino on Wednesday withdrew his bid to build a multiplex theater, retail outlets and restaurants here, saying it was simply a “business decision.â€
The City Council was scheduled to vote Monday on whether to enter into an exclusive agreement with Georgino or San Fernando-based Pueblo Contracting Services.
“I don’t mean to sound presumptuous, but I’m confident I had a 3-2 vote on the council,†Georgino said. “This was just a business decision and that’s all I’ll say.â€
San Fernando City Administrator John Ornelas said Georgino submitted a letter to the city announcing his withdrawal, but didn’t specify why.
“I’m totally shocked,†Ornelas said.
Georgino has built major theater and retail projects in Burbank and Ventura. His bid included bringing the Sanborn theater chain--ranked No. 37 in the country with 98 screens at 14 sites--to San Fernando, which has no theater.
Pueblo Contracting Services, which has never built a major retail project or multiplex cinema, proposes to bring in Maya Cinema, a new chain backed by producer-activist Moctesuma Esparza. A proponent of Latinos in Hollywood, Esparza owns Eastside cable television provider Buenavision Telecommunications Inc.
“Our experience is a non-issue,†said Severyn Aszkenazy, Pueblo Contracting Services president. “We are partnered with people that have done larger projects, and I’ve been in this business 20 years. Just because we’re not a megaplex builder doesn’t mean we can’t do it.â€
On Monday, the council could decide to accept Pueblo Contracting Services’ bid for the downtown project or request proposals from other developers.
“I would like to give the contract to Pueblo as a matter of fairness,†Mayor Jose Hernandez said. “I think it would be bad business for the council not to give it to Pueblo.â€
But Councilman Silverio Robledo was hesitant to make a decision so quickly.
“We need to be responsible and take a look at all of our options,†he said. “It’s important that we don’t rush into something without giving full thought to our options because this is a sizable investment.â€
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