Denton’s historic downtown theater is getting a long-awaited encore, decades after the curtains nearly closed for good.
Axis Realty Group is staking $9.5 million on Denton’s Fine Arts theater, a downtown fixture since the 1930s that has sat largely idle following a fire in 1981, the Dallas Business Journal reported.
The Denton-based firm purchased the 9,900-square-foot property at 115 North Elm Street in 2018 for $764,000, or $77 per square foot. Work on the project paused in 2020 but resumed in January.
It gained momentum last April when the Denton City Council approved a $1.62 million economic development agreement to help fund renovations. Redevelopment efforts are expected to be completed in 2026.
Brad Andrus, executive vice president of Axis Realty and co-founder of NorthBridge Commercial Real Estate, noted that the building is a key part of revitalizing downtown Denton, which has a number of historic properties.
“We strongly believe this project will just push it to the next level,” Andrus said. “We need some additional foot traffic and just people down here supporting the smaller businesses and the restaurants.”
The planned restoration includes a new mezzanine, a second screen for films, a refreshed concessions area, and a bar. The upgrades are designed to create a multifunctional space that is suitable for concerts, live podcasts, movies and comedy shows.
The project is a significant challenge due to the building’s condition, Andrus said. Jason Reimer of Talented Friends — who is also one of the partners behind the revitalization of the Texas Theatre in Dallas’ Oak Cliff — will assume the role of creative director once renovations are complete.
The theater’s investment and restoration contrasts with the fate of other historic theaters in the region, such as Fort Worth’s Berry Theater, which was demolished and replaced by a health clinic in 2023
— Andrew Terrell
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