How to fill an empty historic theater?
It's a question dogging city leaders and real estate agents on two corners of Minneapolis, where movie houses of yesteryear are sitting unused. The first, the Suburban World theater in Uptown, has been empty for about a year. The Hollywood Theater in Northeast, meanwhile, may have a new tenant a quarter century after the screen went dark.
The Suburban World theater's vacancy is somewhat baffling, since commercial activity in Uptown is booming. The 85-year-old historic landmark on Hennepin Avenue between Lake Street and 31st Street is one of the last relics of old Uptown and exemplifies the exotic revival style popular in the 1920s. It was originally known as the Granada Theater.
Business -- largely in the form of retail chains -- is thriving all around the Suburban World. CB2 recently moved in across the street, H&M will open next week, and the Apple Store, Urban Outfitters, Columbia and North Face are just steps away.
But the historic nature of the theater may be scaring away buyers. Realtor Jesse Olson says he gets calls about it every day, he shows the property about three or four times a week, and two people have entered into purchase agreements -- only to back out.
There are "several people hovering around it," Olson said. "But the cliffhanger is it's [historic] and not everybody knows that. So once they dig into talking to the city about it, they don't even come close to touching it."
Renovating a historic building can be tricky, since it is often more expensive and requires approvals from city preservationists. The current asking price is about $850,000. Ideas for the location include a church, a theater, a bar, a nightclub and even a yoga studio.
"Everybody's got a concept for that place," Olson said.
