Sun-Ray Cinema building sold for $7 million, closing in July
It’s official: The Sun-Ray Cinema Theater’s building in Five Points has been sold and the sale comes with a reassuring promise from the new owner.
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The historic theater was sold for $7 million.
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It’s not exactly clear what it will become next, but one thing is certain: It’s not being torn down to put up a parking lot as many in the area had feared.
The $7 million purchase was made official on May 16th, with Atlanta-based developer Union South Partners taking over the nearly 100-year-old building.
In a release, Union South Partners indicated it is committed to investing, “significant capital into the theater space to enhance and improve it as a destination for entertainment while preserving the theater’s historic fabric, keeping many of the building’s existing elements intact”.
ORIGINAL STORY: Sun-Ray Cinema at risk of closure, addresses concerns over risk of losing 5-Points location
For Laura Croft, owner of Edge City in Five Points, she’s just happy to know rumors the building was at risk of being torn down and covered to a parking lot weren’t true.
“I’m so glad that it’s not going to be a parking garage, because I thought that was kind of a dumb idea. Because why would you need a parking garage if you’re tearing down one of the attractions that you would be parking for?” said Croft.
When asked whether the intention was to keep a theater in the space currently occupied by Sun-Ray, Union South Partners told us its in conversations with “a number of reputable and successful entertainment concepts”.
Five Points visitors we spoke with had different ideas about what they’d like to see take Sun-Ray’s place.
“I think this area could use an arcade. They have plenty of clubs and stuff over here, but an arcade, it’ll let the younger crowd have their fun,” said Kamaurya Robinson.
Others like Wesley Holly, want to see the space remain a theater.
“Back in the day, in the 90s, we used to come here and go to concerts. So, I would hate to see it turn into a golfing place,” said Holly.
RELATED: Sun-Ray Cinema building in Jacksonville’s Five Points sold to Georgia real estate firm
Croft has also heard the indoor golfing rumor, and isn’t necessarily a fan of the concept.
“This theater just adds a lot to the area. It’s like a central part of Five Points and it’s one of the oldest theaters in Florida. Like, why would they want to take that away?” said Croft.
According to the new owner Sun-Ray will continue operating through sometime in July, though a specific closing date was not available.
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