RealPage founder Steve Winn’s next big thing could be Cosm and immersive entertainment

The Dallas investment firm, created by RealPage founder Steve Winn, is betting on immersive technology as the main attraction for entertainment and mixed-use venues, with Grandscape in The Colony among the pioneering sites.

Cosm, a company founded in 2020 by Winn’s Mirasol Capital, said Wednesday it plans to build a 65,000 to 75,000-square-foot location in the huge entertainment and shopping complex along State Highway 121 that already has a giant Ferris wheel, a sprawling specialty stores like Nebraska Furniture Mart and Scheels, and an Andretti indoor go-kart track.

Grandscape’s announcement follows his plans for an immersive entertainment venue in the Hollywood Park development near SoFi Stadium and the Intuit Dome in Los Angeles. When Cosm announced the Hollywood Park venue, he said the location would showcase a 90-foot-diameter LED dome in a 65,000-square-foot facility that can hold up to 1,700 guests.

A rendering of the Cosm planned for Los Angeles.
A rendering of the Cosm planned for Los Angeles.(Cosmos)

The facilities will stream sports, arts and entertainment events in a way that promises to create lifelike experiences.

“Cosm is leveraging its technology to create a new category of immersive entertainment called ‘shared reality’ by collaborating with partners globally to stream live content in both physical locations and virtual worlds,” Winn said in an announcement. “We are just getting started and plan to open offices around the world.”

Cosm was formed through a series of acquisitions of spatial computing, specialized design, engineering and immersive video production businesses. Many were longtime suppliers of dome-shaped IMAX screens and planetary projection technology. The Los Angeles-based company also operates out of an office at the Old Parkland campus in Dallas, where Mirasol is headquartered.

Grandscape, part of Warren Buffett’s expansive Berkshire Hathaway, spans more than 400 acres and includes a mix of unique shops, restaurants, and entertainment venues such as an outdoor stage and lawn near where Cosm will be built. Grandscape was recognized as Retail and Leisure International’s Most Innovative Project last year.

Dallas-based HKS Architects will design the Cosm headquarters in Los Angeles and North Texas.

“Consumers will attend these events without having to travel, which is a fantastic evolution in the fan experience,” said Mark A. Williams, global director of HKS venues.

Winn built his fortune, which is estimated at $1.7 billions of Forbes – in real estate management technology, transforming RealPage into the nation’s dominant provider of rent-setting software for landlords. The North Texas property management tech giant has a presence in 22 million housing units.

He was the company’s chief executive officer until 2021, when private equity firm Thoma Bravo bought it for $10.2 billion. His Mirasol Capital still invests in real estate, recently selling a site in Irving in Wells Fargo for a new regional campus and announcing plans for a mixed-use development on adjacent property.

Cosm promises to create immersive experiences that will make customers feel like they are at…
Cosm promises to create immersive experiences that will make customers feel like they are at a sports or music event.(Cosmos)

At a recent Venture Dallas event, Winn talked about how he got involved with Cosm. He started with meeting Jeb Terry, now the CEO of Cosm, at a wedding in California while Terry was looking for his next venture after selling a streaming business to Fox Sports.

“We bought a planetarium company, in fact the largest planetarium company in the world, because we were intrigued by the dome” and the projection technology used in them, he told entrepreneurs and investors attending the event.

“We started imagining what it would look like if we converted it to LED so you could see it in the daytime, and we turned the dome on its side. We then believed we could put you in the front seat of a live streamed NFL, NBA, UFC, European soccer, cricket (event) and you couldn’t tell you weren’t there,” she said.

The company built a 20-foot-tall half-dome test facility in Salt Lake City and invited more than 2,000 broadcasters, league owners and big-screen theater executives to test it out.

“Without exception, everyone agrees that this is a new form of experiential and immersive education and entertainment,” said Winn.

A new technology group backed by Dallas billionaire Steve Winn emerges to offer the home of the future

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