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
From left: AMLI Residential’s Gregory Mutz; Terra’s David Martin; Grand Peaks Properties’ Luke Simpson; Related’s Jorge Perez; and Grand Peaks Properties' Nick Simpson (Getty Images, AMLI, Terra, Grand Peaks Properties, Related, Corwil Architects, Arquitectonica)
Development bonanza: Four Miami projects nab approval
Development bonanza: Four Miami projects nab approval
Terra's David Martin and AB Asset Management's Getzy Fellig with rendering of Residences in the Grove (Terra Group, LinkedIn, Getty)
Terra, AB Asset plan 174 apartments in Coconut Grove
Terra, AB Asset plan 174 apartments in Coconut Grove
MG Developer's Alirio Torrealba with 3191 Southwest 39th Avenue and 3160 Southwest 38th Court (LinkedIn, Google Maps)
MG completes Miami apartments dev site assemblage
MG completes Miami apartments dev site assemblage
Metronomic's Kelly Beam with 3265 Bird Avenue (Metronomic Holdings, Google Maps)
Embattled developer’s Coconut Grove rentals head to auction
Embattled developer’s Coconut Grove rentals head to auction
Ken Griffin and Adrienne Arsht with 3031 Brickell Ave (Getty, Atlantic Council, Oak Studios)
Ken Griffin buyer of Adrienne Arsht’s $107M estate: sources
Ken Griffin buyer of Adrienne Arsht’s $107M estate: sources
Adrienne Arsht and the Coconut Grove estate (Arsht via Naomi.cherenson, CC BY-SA 4.0, via Wikimedia Commons, 3031 and 3115 Brickell Avenue photos provided by 1 Oak Studios)
Adrienne Arsht’s Coconut Grove estate sells for record $107M
Adrienne Arsht’s Coconut Grove estate sells for record $107M
A photo illustration of Residences by Armani Casa in Sunny Isles (RBACMiami.com, Getty Images)
Residences by Armani/Casa tops Miami-Dade’s weekly condo sales
Residences by Armani/Casa tops Miami-Dade’s weekly condo sales
A rendering of the project + a Google street view of the building at 3034 Oak Avenue and  (L-R) Developers Nick Hamann and Jeremy Wacks, with Douglas Elliman’s Jay Parker (Google Maps)
Lender seeks foreclosure of stalled Arbor Coconut Grove project
Lender seeks foreclosure of stalled Arbor Coconut Grove project
arrow_forward_ios

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

Loading...