Dozens of movie-goers were safely evacuated from the Carmel Movieplex 8 at the Shop-Rite Plaza in Carmel last week, when a strong burning odor and smoke began filtering throughout the massive theater.

Stonelake bought the property at a 2020 foreclosure auction and showcased its potential in 2021, when it unveiled plans for a 37-story apartment tower that would have had shops on the ground floor.