Livermore Regional Theater Update

BREAKING NEWS! As of Feb. 15th, 2011 the city council and redevelopment agency have approved financing plan. READ MORE

On November 8th, 2010 the City Council met with the Livermore Valley Performing Arts Center to discuss new financing plans for the proposed 2,000 seat theater in downtown. A good deal of supporters and opponents attended the meeting to have their thoughts heard.

A change of location, lack of financing, and mixed support by the City has all aided to the struggles in getting the project started. Now, it seems financing is back on track, with one catch, the City needs to co-sign. This potentially could put the City’s general fund at risk.

The 2,000 seat theater is supported by some heavy hitting hometowners such as Phil Wente (Wente Vineyards), Dale Kaye (Livermore Chamber CEO), Scott Haggerty (Alameda Country Supervisor), and Don Miller (former Livermore Mayor). The theater is expected to bring an annual economic impact for the Valley in excess of $20 million.

If the City does come to the plate, construction could begin before year-end.

For the entire story from the Contra Costa Time click HERE

*Theater rendering above shows South Livermore Avenue in foreground, Black Smith Square in the right corner. On the left side is a new street to be called Broadway which connects to L Street and a new parking structure. The yellow structure behind the theater is proposed residential/retail mixed use development.

Image is used courtesy of MacCracken Architects

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About thestorefront

Commercial Real Estate Broker in the San Francisco Bay Area specializing in retail sales and leasing.

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