It appears that Kevin Smith and concerned citizens won’t have to chain their bodies to its beloved doors, after all.
Announced late on Wednesday, February 7th, the Rio Theatre operators revealed that their landlord was allowing them to buy the famous landmark.
The Rio’s lease was up, and organizers argued that once it was on the market, they wouldn’t stand a chance; they felt that condo developers would likely offer a bid they couldn’t afford to match.
Nevertheless, the online petition to save the Rio drew an impressive 20,000 signatures in a matter of days. It also included a plan to try and buy the building, which has an assessed value of about $4 million.
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The Rio Theatre is Safe
https://www.facebook.com/TheRioTheatre/photos/a.488175904553204.101630.154493301254801/1594885597215557/?type=3&theater
The Rio’s triumphant Facebook post reads: “More details coming soon, but it goes without saying: A huge part of the reason we won the bid is because of the massive mobilization of those of you who live, laugh, work and play on the corner of #EastVan we call home. The clock is ticking but for now, tonight – we did it.”
Evidently, the theatre has concerns about the future; however, this was a crucial moment for the local favourite.