Photo via Flickr
The State Palace Theater, a 1920s Canal Street theater that’s been out of commission since Katrina, has been purchased for $3.5 million.
Real estate developer Gregor Fox bought the building, and told nola.com that it could take ten years and $10 million to get the theater fully renovated.
In the meantime, it looks as if he will focus on renovating and leasing out the 30,000-square-feet of retail space around the property over the next two years.
The theater was built in the 1920s for $1.5 million and was devastated in the flooding from Katrina.
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[…] Canal Street theater that’s been out of commission since Katrina was purchased last year for $3.5 million by real estate developer Gregor […]