Castro Theatre dismisses nonprofit’s takeover proposal

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Castro Theatre dismisses nonprofit’s takeover proposal
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The owners of The Castro Theater are all-in on Another Planet.

The Nasser family, which has long owned the historic theater, succinctly rebuffed the plan to renovate and operate the building offered last week by nonprofit Castro Theatre Conservancy.

In a letter signed by Chris Nasser and Another Planet on May 1, the theater owners described how in November, they “detailed the minimum capital investments that would be required of CTC as part of any lease agreement, which included items such as rewiring outdated lighting systems, installing fire and life safety systems, and restoring the Theater’s marquee and blade sign.”

The letter could dampen the hopes of those who oppose Another Planet, arguing that the for-profit company will focus on intermittent live concerts and not on the kind of daily, film-focused programming neighborhood advocates want. Another Planet’s proposal also necessitates replacing the raked floor with a retractable replacement, allowing for seating during film screenings and standing-room-only space during concerts.

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