Gordon Square Arts District
The 1,200-seat Capitol Theatre in Cleveland, Ohio showed silent films accompanied by a Wurlitzer organ until it was fitted for sound in the 1930s. In October 2009, nearly 90 years after it opened in 1921 and undergoing a $7.5 million renovation, the theater once again welcomed moviegoers thanks in part to $4.3 million in historic and new markets tax credit equity.
TOTAL DEVELOPMENT COST:
- Federal historic tax credits
- New markets tax credits
- One of the "three engines" of Cleveland's arts district
- Provides a unique independent cinema experience showing documentary, independent, and foreign films
- Restoration of 1921 theatre into 21st century cinema