An Edmonton man is on a mission to revive the Princess Theatre
An Edmonton man hopes to see the city unite to revive an iconic and historic spot on Whyte Avenue.
David Stupnikoff has launched a GoFundMe campaign to raise funds for the revival of the Princess Theatre, a historic landmark that has been closed since 2020 and listed for sale at $2.7 million since 2022.
The iconic theatre, built in 1914, is Western Canada’s first marble-faced building and a Provincially designated historic site. Prior to its closure, the theatre and its basement, the Princess II, were screening films.
Stupnikoff and his partner, Patricia, are deeply involved in Edmonton’s performing arts scene. They own a private downtown facility that offers local performing arts groups, touring acts, comedians, musicians, and spoken word artists a space to perform and workshop without financial barriers. He is also active in entertainment and stunt shows across Canada, with strong connections in arts and performance circles.
He explained to Daily Hive that he drives by the Princess Theatre almost daily and often thinks about seeing it return to its former glory.
“I looked into it about eight months ago because we were thinking about creating an actual performance space,” he said.
“I’ve always thought the Princess would be a cool place.”
Stupnikoff is seeking $9.2 million for the revival plan. While the GoFundMe was launched for simplicity, he explained that he plans to obtain charitable status as the campaign gains momentum, allowing him to accept larger corporate donations with tax benefits.
You may wonder why he’s asking for nearly $7 million more than the theatre’s listed price. The reason? The Princess Theatre is in desperate need of repair, and the cost of restoration far exceeds the purchase price.
“Just the asbestos abatement alone is looking to be $2.5 million,” Stupnikoff explained. “Every roof needs to be done in that —it’s a big project.”
Stupnikoff has been in touch with local architects and contractors, developing a plan for the theatre’s revival should the sale go through. While acknowledging it’s a huge risk, Stupnikoff said he’s driven by passion and wants to create lasting value in the community.
“I’ve had people reach out to me from places like Vancouver saying they’ve been there as a child or people who’ve seen a movie there. I’ve been getting a lot of cool stories about other people’s visits.”
“I don’t want to see this building disappear and be replaced with another modern glass box.”
If successful, the plan is to transform the main theatre into a versatile stage for comedians, professional speakers, school groups, and local talent. The 100-seat Princess II will remain largely unchanged, continuing to host screenings and small performances.
Stupnikoff sees the Princess Theatre as a landmark worth saving and a potential hub to revitalize Whyte Avenue, which he claimed struggles with vacancies.
“It would be cool to see live performances back on the forefront of Whyte Avenue that isn’t just a DJ in a club. It’s a beautiful space.”
In addition to the costs of repairing the building, Stupnikoff says the goal is to pay the current theatre owners their asking price, focusing on preserving the building’s original features. The rest of the funds would cover operating costs and property taxes for an 18-month term, with incentives and recognition for donors.
“I’m very interested in seeing this all the way through and working with the community.”
There are other plans to partner with local industry, offer tours of the historical area, and support the High-Level Bridge Streetcar by including ride admission with theatre ticket stubs. As for ownership of the theatre, Stupnikoff says a board-run nonprofit would be created to manage it transparently.
“We will collaborate with our community, provide jobs and create opportunities that we know could massively benefit it. To speak transparently, we are only interested in a supportive income,” the GoFundMe states.
Stupnikoff believes that, while ambitious, the dream could become a reality if Edmontonians pitched even a small amount toward the campaign.
“If everyone in the city buys the Princess a Starbucks coffee, we can bring this back for 100 years,” he said.
However, if things don’t go to plan, funds will be donated to the Stollery Children’s Hospital.
“The realist in me is like, ‘it’s a tough project,’ but the dreamer in me is like, ‘of course we can do this.'”