With all the excitement over the restoration of the Orpheum Theater, which followed the the restoration of fellow Canal Street historic venues The Joy and Saenger, you may be wondering when the State Palace Theater will get the same treatment. Katherine Sayre of NOLA.com | The Times-Picayune gives us an update on what's going on with this boarded-up gem.
The theater, which got its start premiering MGM films and then became a hotspot for raves in the 90s, flooded after Hurricane Katrina and has sat mostly vacant since. Developer Gregor Fox bought the property in 2014 and now, accroding to Sayre, he is looking for a development partner to revive the theater.
One mystery group has "asked for a 'hold' on the property while it explores the possibility of a deal."
Fox "would consider a long-term lease of the entire property, a redevelopment of first and second floors for retail or offices or a joint-venture to renovate the theater and retail space" or a "sale to new owners."
A new owner, you say? Sidney Torres, you haven't bought anything in a while. Any interest?
· What's happening with the State Palace Theater on Canal Street? [NOLA.com]
· New Orleans' State Palace theater: From movie premieres to raves to revival? [NOLA.com]
· Sidney Torres IV Has No Chill [Curbed NOLA]