Emerging Concepts represents the real estate interests of Silverspot Cinema nationally. The 41-year-old University Mall is preparing to welcome a new cinema and many new tenants as part of its ongoing rebranding process — leaving businesses in the shopping plaza optimistic about future opportunities.

Madison Marquette, the company managing University Mall, launched a rebranding campaign for the mall in 2013 after the department store chain Dillard’s left, according to a press release.

The rebranding process will include changing the name to University Place and a new logo. The process will focus on building a regional mall that features distinctive local retailers.

The Dillard’s location will be taken over by Silverspot Cinema, and a red-carpet opening will be held for the luxury cinema this summer.

The 52,500-square-foot movie complex will have 13 screens and an upscale atmosphere that includes a lounge area and full restaurant. Tickets will be $16, and the cinema will show foreign movies, independent films, new blockbusters and 3-D movies as well as live broadcasts of cultural performances.

A portion of the mall is under construction as it readies for the opening of Aveda Institute of Chapel Hill, Planet Fitness and the luxury movie theater Silverspot Cinema.