The Fox Theatre Foundation has closed purchase deals on several properties on North Stone Avenue adjacent to the Fox Tucson Theatre that will allow a planned 20KSF expansion project to move forward.
The foundation acquired the theater and an adjacent building for $100 from Rio Nuevo. It then spent another $2.74M to buy 1 W. Congress Street and four other buildings at 13, 17, 25 and 27 N. Stone. 27 N. Stone is occupied by a market that has a lease in place until May. The other buildings are already vacant.
With the required space now in hand, full architecture plans, including a larger lobby connected to the main theater, a lobby bar and second floor space for supporting uses can now be developed.
The Fox Foundation launched a fundraising program in December that it will fully roll out over the next year. Officials expect the expansion to cost approximately $21M. Most of the project cost will be raised through donations, which includes a $2M gift from Rio Nuevo.
Actual construction, including demolishing the existing buildings, could begin by 2024. The facades on Stone Avenue will remain.
The architectural work is expected to take place from now until May, when the currently occupied retail space vacates. (Source)
