Edmonton’s Princess Theatre just got another major price drop
It’s been more than three years since Edmonton’s historic Princess Theatre went up for sale, and while it still hasn’t found a buyer, the price just dropped significantly again.
The Whyte Avenue landmark is now listed at just under $2.5 million as of August 2025, down from $3.1 million when it first hit the market in April 2022. It was later relisted at $2.7 million, before being marked down once more.
The theatre has remained closed since the fall of 2021, with the marquee out front still referencing COVID-19 restrictions. The current owners are looking for someone to continue operating it as a theatre or a similar venue.
Ian S. Fletcher/Maxwell Polaris
Edmonton resident David Stupnikoff launched a campaign in February to save and restore the building. As of this month, he’s raised $7,729 toward his $9.2-million goal. He previously told Daily Hive the building needs many upgrades, including asbestos abatement.
Ian S. Fletcher/Maxwell Polaris
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The Princess Theatre was built in 1914 by John McKernan and was the first marble-faced building in Western Canada. All materials except the marble, which came from BC, were sourced locally. The first commercial film shown inside was The Eagle’s Mate, a silent drama starring Mary Pickford.
Ian S. Fletcher/Maxwell Polaris
The theatre closed in 1958 but was restored and reopened in 1971 as The Klondike Theatre. In 1976, it was designated a registered historic site by the Alberta government for its architectural value and cultural significance.
The main theatre features 360 seats, a second-floor balcony, a concession, washrooms, and a projector room. Below, the basement houses Princess II — a smaller, 90-seat theatre with its own entrance off Whyte Avenue, along with its own concession and washrooms.
Ian S. Fletcher/Maxwell Polaris
Ian S. Fletcher/Maxwell Polaris
The building is listed for sale or lease, and can come fully equipped. With the new price tag, we’re hoping this beloved piece of Edmonton’s film history finds new life soon!