Rialto Theatre has been abandoned for years on Fair Oaks. The building is obviously in bad shape and has been nearly dilapidated.
However, something good is happening with the place. LA Curbed reports that Rialto Theatre is about to be revived. Some people are now competing to renovate.
It has been in the report that Vintage Cinema is interested to rebuild the Rialto Theatre. The owner of the Los Feliz's Vista Theatre/ Vintage Cinema is said to be in talks with Izek Shomof, the guy who bought the theater early this year.
The initial plan is to renovate the place and bring Rialto Theater back in business as a movie house. However, recent news came out from Pasadena Star News telling that a new plan has been brewing for the theater. According to the Zen Vuong of Pasadena Star-News, the second plan was from an unnamed group of 5 individuals. The group wants to make the Rialto Theatre into a "multi-use venue."
This called "underdog" group is represented by Escott Norton, the Executive Director of L.A Historic Threatre Foundation. "Over the last few months, a team of bright, experienced professionals has been putting together an innovative plan to manage the entire Rialto Theatre building," Norton said in his newsletter. He also has disclosed the plan for Rialto Theatre. According to him, the group has proposed a full-restoration of the place with the aim for a "multi-use." All parts of the theatre would be utilized- stage, orchestra pit, and even dressing room.
Norton has also revealed that the group he represented has spoken with Izek Shomof of SLH Investments, the new owner of Rialto Theatre, about 2 weeks ago. To add, SLH has requested from the group a formal business plan, which will be given to Shomof once the major donors and investors would turn up.
It has been reported early January this year that developer/historic-building-restorer Izek Shomof bought Rialto Theatre. He wants to rehab the almost falling apart movie house into a functioning theatre.
