he Pittsburgh Cultural Trust is exploring options for a proposed movie theater in downtown Pittsburgh, according to the Pittsburgh Post-Gazette.
With plans to convert the former Bally Total Fitness Club property on Sixth Street near the Renaissance Hotel, the project could cost $11 million, estimated Kevin McMahon, the Cultural Trust’s president and CEO, according to the P-G. The location was once Gateway Theater until closing in 1980.
The organization has approached Landmark Theatres, Bow Tie Cinemas, and Rick Stern, owner of the Manor Theatre in Squirrel Hill, the P-G reports.
Landmark, co-owned by Mt. Lebanon native and entrepreneur Mark Cuban, operates 53 theaters with 255 screens in 27 markets. Bow Tie operates 50 locations with about 400 screens.
Bow Tie’s CEO Joe Masher also is board president of the Theatre Historical Society of America that in January bought the Hollywood Theater in Dormont.
The Cultural Trust recently received a $750,000 state redevelopment assistance capital grant for the theatre and has applied for a $2.25 million state grant, according to the P-G.
As funding is still being put in place, no construction date has been set.
By Stacey Federoff – Digital Producer, Pittsburgh Business Times