After a series of events, as well as an ongoing online fundraising campaign, operators of The Rio Theatre announced this week they have been granted a deadline extension to raise the necessary funds to reach their campaign goal and buy the entertainment venue themselves.
On Wednesday evening, The East Vancouver entertainment venue tweeted that they had been given an extended, final deadline of July 31, to raise the money.
“So that’s all the time we got left folks… lets get this done!”
The plight of the theatre received some high-profile help this week, during a Monday-night fundraiser dubbed the Deadpool Double Bill.
And even though rumours that the star of the movie, Vancouver native Ryan Reynolds might show up, didn’t turn into reality, Reynolds still gave the Rio some love in a video message, where he called the theatre an “landmark” and an “institution” in Vancouver.
Reynolds also tweeted that he had personally donated to the campaign.
Hollywood director an actor Kevin Smith also played two shows there earlier this year as part of the fundraising efforts.
News that the building was for sale broke in late January, and since then a slew of supporters, such as Reynolds and Hollywood director/actor Kevin Smith have put forth efforts to reach their purchasing goal.
According to a recent CBRE listing, the 50 ft. wide, 6,350 sq. ft. site has “strong assembly potential” for “high-density residential” spaces and could potentially accommodate a building up to 10 storeys in height, based on the municipal government’s 2016-approved Grandview-Woodland Community Plan.
However, the plan also stipulates that the city will “consider applications for additional height, density, and relaxations on the Rio Theatre and sites directly adjacent to it, in order to support renewal and expansion of the cultural facility.”