Albuquerque Journal (Albuquerque, NM)

Theater selling acre next to Old Town.

Byline: Commercial Real Estate DIANE VELASCO Of the Journal

The Albuquerque Little Theatre is selling the prime Central Avenue acre in front of the nearly 70-year-old theater at 224 San Pasquale NW, one block south of Old Town. The proceeds will be used to renovate, pay down debt and create an endowment to ensure the theater lives on.

Built in 1936, the theater has had three additions and seven roofs tacked onto it. All of the roofs leak, and the theater is now taking bids from architects to have the roofs repaired, said development director Marie Hamilton.

Hamilton estimates the building needs $2 million worth of renovations, some of which will be covered by Department of Housing and Urban Development money, as well as by the $622,033 the theater hopes to raise from selling the acre. …

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