Segregation-era movie theater in Coconut Grove wins national historic designation

Miami /
Jul.July 15, 2016 01:30 PM

A Coconut Grove theater steeped in history from Miami’s segregation era has been placed on the National Register of Historic Places, paving the way for redevelopment, sources told The Real Deal.

The ACE Theatre at 3664 Grand Avenue was added on June 13, according to the register’s website.

The historic designation means the owner, ACE Development Company, can now focus on its plans to renovate of the property into a multi-use entertainment venue, according to ACE attorney Mark Grafton.

“We are extremely excited about unlocking the development potential,” Grafton told TRD. “Being placed on the register allows us to sell transferable development rights, makes the ACE Theatre eligible for federal and some state grants, and it also unlocks a 20 percent federal tax credit which will make it more appealing to outside investors.”

Two years ago, ACE Development — which is owned by longtime Coconut Grove residents the Wallace Family — won approval for a local historic designation from the Miami Historic and Environmental Preservation Board. Built in 1930, the movie theater was the only film house serving the Grove’s black community in the 1950s. Today, the building is shuttered and in need of extensive repairs.

“The main goal was to get the historic designation,” ACE Development President Denise Wallace told TRD. “There are a lot of changes taking place in the Grove so we felt it was important to preserve the property.”

With a historic designation from the city of Miami, ACE Development was able to win the support of the Florida Division of Historic Resources, which nominates buildings to the National Register of Historic Places. Other local theaters on the list include the Lyric Theater in Overtown and Olympia Theater in downtown Miami.

Wallace said ACE Development is exploring the possibility of a public and private partnership with the city or Miami-Dade County to restore the theater and operate it as multi-use entertainment facility for Grove residents.

“I know there has been a lot of interest from people in the community,” Wallace said. “We are hoping the national designation will have a positive effect.”


Related Articles

arrow_forward_ios
Jorge and Darlene Pérez with the home (Compass, Getty)
Billionaire developer Jorge Pérez sells Coconut Grove mansion for $33M, donates proceeds
Billionaire developer Jorge Pérez sells Coconut Grove mansion for $33M, donates proceeds
(Pacheco-Martinez & Associates)
$65M sale of waterfront Coconut Grove spec mansion sets new record in Miami-Dade: sources
$65M sale of waterfront Coconut Grove spec mansion sets new record in Miami-Dade: sources
Jorge Pérez with his longtime Miami mansion (Getty, 1Oak)
Miami’s condo king to sell his Coconut Grove palace after moving to Park Grove
Miami’s condo king to sell his Coconut Grove palace after moving to Park Grove
The Grovenor House and Yamal Yidios (Compass, Ytech)
Ytech CEO sells Coconut Grove penthouse for $8M
Ytech CEO sells Coconut Grove penthouse for $8M
Nathan Leight and the Coconut Grove estate (One Sotheby's, Terrapin Partners)
Private equity tycoon trades one Coconut Grove estate for another
Private equity tycoon trades one Coconut Grove estate for another
Hilarie Bass (The Bass Institute) and 3591 Rockerman Road, Miami (Toni Schrager / Brown Harris Stevens Miami)
Former Greenberg Traurig co-president sells waterfront Coconut Grove home for $16M
Former Greenberg Traurig co-president sells waterfront Coconut Grove home for $16M
Charlene and the late Ron Esserman with an aerial of the Coconut Grove home (Google Maps, the Miami Foundation)
Charlene Esserman sells waterfront Coconut Grove home for $15M
Charlene Esserman sells waterfront Coconut Grove home for $15M
Mike Komaransky and the $30.5 million home he sold recently (Coldwell Banker Realty)
Waterfront Coconut Grove mansion home to crypto investor sells for $31M
Waterfront Coconut Grove mansion home to crypto investor sells for $31M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...