Now that Loews has opened up a shiny new theater accross the street, it's kept the Grand Alderwood open as a discount, second-run theater. Previously the only such theater in the area was the Crest in Shoreline. While the Grand Alderwood doesn't have the funky charm of the Crest, it's arguably a better theater with better seating and audio.
Pros: Cheap, Cheap, Cheap
Cons: Mediocre seating, Mediocre decor, Mediocre concessions