Jeff Chew, project manager with the city's community and economic development agency, is the one presenting the city council with its options. Chew says the favored option is to use the 2,500-plus-seat theater for a performing arts center and to develop the surrounding 50,000 sf into related office and retail space.

The theater was constructed in 1928 and used both as a movie house and a vaudeville stage. The auditorium is surrounded by a U-shaped building that house about 30,000 sf of office space and about 20,000 sf for retail with the possibility of adding space by building up on the surrounding space. There are also other buildings in the area, which could be developed as retail or mixed-use operations.

The community and economic development agency purchased the property in 1996. Recently the agency removed the 60-foot vertical sign and marquee for renovation. The two historic markers will be returned to the building in August. In addition, the agency plans to spend about $400,000 to repair and restore the building's façade and entry, and spent another $1 million to repair the roof.