Grand Center continues to grow and transform. Here's another project announced just 30-minutes ago. 700-800 new theater seats will be added to the district.
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Smith stages $11.5 million Sun Theater renovation
St. Louis Business Journal by Matthew Hibbard, Social Engagement Manager
Date: Friday, January 4, 2013, 2:49pm CST - Last Modified: Friday, January 4, 2013, 2:53pm CST
Steve Smith, CEO of The Lawrence Group, said his investment group TLG Sun Theater LLC plans to close on the sale of the Sun Theater in Grand Center on Jan. 8.
Grand Center Inc., led by CEO Vince Schoemehl, expects to sell the building for slightly under $1 million. Smith said once the sale is complete, work on the $11.5 million theater renovation should start immediately.
The Lawrence Group will serve as the architect on the renovation project as well as the designer and general manager. Smith said construction could begin as early as Jan. 9 and be completed sometime next summer.
Renovation work includes restoring the lobby and main auditorium space to its original style. Smith said the project also includes decreasing the auditorium seating from about 1,000 seats to 700 seats to make room for classroom space. He said construction will include installing updated technology, such as a new sprinkler system and elevators.
People's National Bank was chosen as the primarily lender in the redevelopment of the Sun Theater, Smith said, while Great Southern Bank provided bridge loans and tax credit investments.
The 30,000-square-foot Sun Theater, next to the Beaux Arts Building, will serve as the performance space for the
Grand Center Arts Academy, which opened in August 2010. Smith considers the renovation of the Sun Theater the second phase of the
Grand Center Arts Academy project. The Lawrence Group, along with Paric Corp., completed the first phase of the $23 million development project in August 2010, which included the construction of the academy.
photo credit, reallyboring, flickr
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