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Is Loew's State Palace Theatre Next Up For a Comeback?

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A tipster pointed out this potentially juicy detail concerning the shuttered Loew's State Palace Theatre: From the agenda of the Downtown Development District's board of commissioners meeting this week was this tidbit: "Approval of Loew's State Palace Investment Terms & Covenants —Action Item*" The theater, built in the mid-1920s, has been shuttered since 2007. A listing from December 2013 (that has since been removed) had the Canal Street property for sale for $5-million, which included the surrounding retail units and rooftop billboard. In the midst of rooting around for some answers, another Curbed reader hit up the tipline and said a $30-million restoration of the theater is in the works with plans for an attached restaurant and several retail spots. As always, stay tuned! [CurbedWire]
· Loew's State Theatre (State Palace Theatre) [afterthefinalcurtain.net]