Former Alamo Drafthouse space leased to new theater

AUSTIN – A new movie theater company, Southwest Theaters, has signed a lease to open its first theater in the space vacated by Alamo Drafthouse Cinema’s Lake Creek location in the Lake Creek Festival retail center.

Alamo Drafthouse closed its Lake Creek theater July 21 when it opened its new ten-screen cinema July 22 in Lakeline Market just north on US 183.

The theater will be value-based with tickets priced around $2 to $3 and will show first-run films that are one to three months old.

The theater will use all seven screens at the former Alamo Drafthouse location but not the kitchen. The new theater will serve typical concessions of popcorn, candy and soft drinks. Although the theater does not yet have a name, Chief Operating Officer Nathan Searer said it will be something similar to Lake Creek Theater or Lake Creek 7.