Redevelopment Association honors Alameda Theatre

posted by Michael Zoldessy on January 28, 2009 at 8:00 am

ALAMEDA, CA — The Alameda Theatre has won an award from the California Redevelopment Association for the steps it took to reopen and put itself in a position to be successful.

In order to make the original single-screen theater economically feasible, the city approved plans that created the adjoining smaller screens and a contiguous parking structure. These new screens are the economic engine that drives the new theater complex, providing today’s moviegoers with the variety they expect in a movie theater experience. The 341-stall garage offers convenient parking not only for the theater, but for the nearby Park Street Business District.

The city contributed $21.7 million in tax increment bond proceeds and $1.7 million in parking revenues to a project that had a final tab of $36.4 million. A Housing and Urban Development Section 108 loan for $7.2 million and $5.8 million of private investments paid for the balance of the project.

Read the full story in the Alameda Sun.

(Thanks to celestialspirit13 for providing the photo.)

Theaters in this post

Comments (1)

Life's Too Short
Life's Too Short on February 2, 2009 at 8:52 am

I’ve heard some people complain about this development. But I don’t see what the problem is. It looks a great combination of classic and modern.

You must login before making a comment.

New Comment