After nearly a century, The Rialto was crumbling, closed.
The beloved, obsolete cornerstone of the community was falling apart. The possibility of restoring its luster and role in the local economy, and culture, was unclear to all. It could not be torn down - thanks to preservationists. It could not be improved - thanks to a complicated lease and entertainment economics. It could not remain as it was - a blight on the community.
What to do?
The approach that unfolded with my involvement as Chamber CEO and Economic Development partner with the City of South Pasadena was to press for revitalization, and get the thing unstuck. We did not know how, and we did not even have an official request from the theatre owners (a family trust managed by a bank) nor their tenants (a major player in movie exhibition with no bankable way to bring the thing back to par, let alone improve it). We pressed forward. We formed a team: developers, entertainment specialists, artists, entrepreneurs, community activists, local leaders. We created a White Paper: Vision Rialto. We connected stakeholders behind the scenes. We also held public forums in packed meeting houses. We even made a movie! In the end, what we did was to demonstrate that with a coordinated effort, open communications and respect for the complexity of the dilemma, we could, and did, make a change. It was a change of ownership - and a step toward revitalization.
The broker who listed the property for sale once the owner and operator had decided to sell warned the team: the offers that were most likely to come in would be adaptive reuse. The leadership team urged the Broker to seek entertainment-oriented concepts, and threw in huge support in media interviews, preservation resources and expertise, research efforts and political support. The result: seven of the eight offers that came in were entertainment concepts. The first and best offer: Quentin Tarantino. Although he went off to make The Hateful Eight instead of hunkering down to rebuild a silver screen showcase, the next offer did go to closing. The current owner, a collector of antique buildings with a successful record of reopening them as economic contributors to the community, is leasing it to Mosaic, and together they are forming revitalization plans.
The story of the Rialto is not over yet. It took a village to prevent a theatre from being razed. It will take a team to figure out how to restore it to its glory days. If you have a hidden gem in your neighborhood, and are at a loss for how to get it polished and productive, I can help. Just send an email or give me a call. But first . . . watch this!
Documentary by Miranda Gontz.
Oil painting by Liz Reday.
Rialto interior by JT Burke.
Scott Feldmann (left) and filmmaker Miranda Gontz answer questions at Encore! Rialto community gathering.