The El Rey Theater in downtown Chico is the longest standing cinema in California and the second oldest in the country.
It fell on hard times when multiplexes arrived, but now a group of local visionaries wants to bring it back, and it happens to be for sale.
At a town hall last night on the upper patio of Stoble Coffee, members of the Save the El Rey committee gave a progress report to a small crowd of about 40 supporters detailing the evolving business plan, strategy, goals and needs.
It’s a truly monumental task. Current projections are that it will take as much as $15 million to buy the El Rey building, make needed repairs and renovate the interior.
Right now the organization has just a few thousand dollars in its account. But the big news of the night was that a benefactor has pledged $2.5 million to help move the project forward.
In the meantime Save the El Rey is networking with local businesses, officials, nonprofits and other organizations to learn more about different aspects of promoting, fundraising and eventually operating a small town historic theater that can accommodate cinema, music, theater and community events.
The El Rey Theater has been for sale for more than a year.
