Bethesda Theatre to be auctioned
BETHESDA, MD — The 1938 art deco Bethesda Theatre will be auctioned off on June 29 as a result of its current owners defaulting on a mortgage. It was converted in the 1980s to a brew-and-view and still later to a live performance venue.
More recently, it underwent a $12 million renovation in 2007 by The Bozzuto Group, which received roughly $3.5 million in state and county funding and tax credits to build apartments above the theater.
Earlier this spring, the theater’s owners said that they were seeking assistance to help revitalize the struggling property.
Tom Baum, president of the Bethesda Cultural Alliance, which owns the theater, said their efforts to build up a subscription base fell short as the recession hit and entertainment spending slowed.
There is more in the Washington Post.
(Thanks to rex libris for providing the photo.)