Quote:
Originally Posted by Old&New
And what are they going to ride TRAX to if you take points of interest, like the pantages/Utah theater, off the line? You get my high-level point.
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Who is riding Trax today to the Pantages/Utah Theater?
That is the point.
Say the City tries to go down the road of saving the theater, the development with Hines goes away. That is what many people want but at the same time, they hope that someone will come in and save the theater. But what if no one comes? How long should the theater stay in its decaying state?
As for saving the theater. If it was possible and someone stepped up to do so, I would be happy. But I also live in the real world and wonder outside of history, what is the ROI going to be for the theater?
If it is restored as everyone wants, it would be a single screen theater. How often would it be used, One or maybe two weeks a year for Sundance?
What is the programming that will draw people to the theater?
If it was used outside of Sundance for first run movies, is there enough foot traffic to support it? People aren't going drive downtown (pay for parking) or take Trax all to walk a couple of blocks to see a movie that they can see closer to home.
This is where the ROI comes into account. Heart can only get you so far but what is going to be the ROI? A theater that sits empty for 340+ days a year? A street front that is only slightly better than today?
Sure, having it saved would be great but show me how it is worth the money, either for an angel investor or even the public to subsidize.
On the other hand, we can preserve the best remaining parts of the theater and incorporate them into a development that will bring in hundreds of people daily. Increase foot traffic in the area, and increases tax revenue. It would also increase transit ridership as people would use transit to get around.
These are the harsh realities and while preservation is good, there must be some return from the investment made. This is why we are at 2 options: Move forward with a residential project or hope and pray someone comes in with a plan to save the theater as it sits idle and decaying for who knows how long making preservation even harder.