Randy McKay presented an update on the Holly Theatre Restoration Project.
When restored, the theatre will have 1,003 seats and be the largest venue between Redding, Calif. and Eugene, Oregon. The restoration project has three goals: Historic preservation, support the arts and revitalization. Several have asked if the restoration of the Holly will have an impact on the Collier Center. A study revealed that it will have 88% unique events. As far as revitalizing, the theatre has the potential to add $3M to the Rogue Valley economy with 90 new jobs and over 10,000 hotel guests. When open, the theatre’s operating model calls for 95% earned income from ticket sales and the balance from donations/memberships.
At present, 88% of the funds to restore the building have been raised and bids are out to contractors. It is projected that restoration will begin in the 4th quarter of 2017 and that the theatre will be open first quarter 2019.
For more information on the Holly, please call 541-772-3797 or go to: hollytheatre.org.