National Theater to be sold?

posted by robnrva on December 2, 2005 at 12:42 pm

RICHMOND, VA — The Historic Richmond Foundation is currently considering plans to sell the National Theater. Contracts are currently being considered with restrictions as to reuse of this historic structure. One potential reuse includes the addition of a 120 room hotel above the current structure.

The National Theatre in downtown Richmond has several potential buyers, including a group looking to purchase it and hold it for the Virginia Performing Arts Foundation.

The Historic Richmond Foundation, which owns the theater at 700 E. Broad St., has sent copies of a draft contract to several suitors and is looking for responses by Wednesday, said John Owen Gwathmey, the group’s president.

The National is listed for sale at $1.55 million, but the contract has a space for a price to be added, Gwathmey said. It also includes significant restrictions on how the historic theater could be altered.

Times Dispatch:
Groups Step Up to Acquire The National

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