Sale of Hollywood Approved

The Hollywood Theatre building is another step closer to being purchased by Andrew Volna. The City Council on May 9th authorized the sale of the building for $1.00 to Volna’s company, Out of the Past Redevelopment. Volna’s company received the building for that amount due to the extensive amount of redevelopment which needs to be done to make the building functional once again.

The City’s authorization of the sale approved the terms which Out of the Past Redevelopment must meet. Over the next 22 months Out of the Past Redevelopment must rehabilitate the exterior and façade, which includes the Hollywood sign and marquee, as well as rehabilitate the lobby, reconstruct the ticket booth and to preserve historic elements in the auditorium and inner lobby of the building.

Volna does not have a tenant yet for the building. The redevelopment terms spelled out in the sale will allow Volna to make the building more attractive to perspective tenants and to increase the ability of Volna to more effectively market the building. The Hollywood building is now on the National Register of Historic Places and cannot be redeveloped to such an extent that the building could not be used again as a theatre.

The ANA board has been very supportive of the purchase of the Hollywood by Volna. Andrew and his team have done an incredible job of reaching out to the Audubon Community throughout the process of studying the needs of the building and discussing his redevelopment ideas with the neighborhood.

In order to give the community one last look at the building before redevelopment begins, the ANA and the City will host an Open House at the Hollywood on May 31st from Noon–4pm. Andrew Volna and members of his development team will also attend the open house to answer any questions you may have.

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