- By Adam Shanks | Examiner staff writer |
- May 3, 2023 Updated 15 hrs ago (SFExaminer.com)
The owners of The Castro Theater are all-in on Another Planet.
The Nasser family, which has long owned the historic theater, succinctly rebuffed the plan to renovate and operate the building offered last week by nonprofit Castro Theatre Conservancy.
Instead, the family reiterated its faith in Another Planet Entertainment, which signed a deal to run the theater and pour more than $15 million into rehabbing it last year.
The family, which operates the theater as Bay Properties Inc., noted that it solicited an offer from The Castro Theatre Conservancy last year — and found it underwhelming.
In a letter signed by Chris Nasser and Another Planet on May 1, the theater owners described how in November, they “detailed the minimum capital investments that would be required of CTC as part of any lease agreement, which included items such as rewiring outdated lighting systems, installing fire and life safety systems, and restoring the Theater’s marquee and blade sign.”
The nonprofit’s response “did not contain any binding commitment to make those necessary investments, and in fact, proposed a 10-year sublease with no requirement to make any capital improvements whatsoever,” the Nasser and Another Planet letter allege.
The debate over the future of the beloved — and increasingly decrepit — theater has simmered for months.
The letter could dampen the hopes of those who oppose Another Planet, arguing that the for-profit company will focus on intermittent live concerts and not on the kind of daily, film-focused programming neighborhood advocates want. Another Planet’s proposal also necessitates swapping out the raked floor for a retractable replacement, allowing for seating during film screenings and standing-room-only space during concerts.
Another Planet has committed to dedicating at least one-third of its programming to film festivals and screenings and prioritizing the LGBTQ community that has long flocked to The Castro.
But the company’s detractors argue those promises are hollow.
Last week, the nascent nonprofit Castro Theatre Conservancy floated a proposal that detailed its plans should it sign a lease or purchase the building.
The plan includes an immediate spate of film screenings, long-term plans for theater renovations, and a focus on LGBTQ-specific programming.
But, as Nasser and Another Planet noted in the letter, the plan did not include any firm financial commitments.
Instead, the nonprofit suggested it would launch a fundraising campaign. It also notes that it is a nonprofit and thus simply has to break even to continue operating the theater.
“Because the Conservancy is not in business to make money, but to serve the community — our principal goal, and the measure of our success, will be to enrich the lives of as many people as we are able to reach through community-based programming and cinema,” the conservancy’s plan states.
