The owners of the historic Princess Theatre on Whyte Avenue are looking to sell the 110-year-old building, acquired by the current owners in 1996, but only to suitable buyers. The theatre has been vacant for TWO years(!!!) and despite over 100 tours and various offers, the family has declined proposals that would convert it into retail, dining, or bar spaces.
The owners want the theatre to continue serving the arts community and many curious potential buyers aren’t allowed inside after expressing intentions contrary to this vision.
TJ Brar, the owner’s son, reiterated their commitment to preserving the theatre, which he believes is unique and significant to both Strathcona and Edmonton. The challenges for potential buyers include ongoing vandalism, which has marred the building’s exterior, and the need for repairs, which some find off-putting.
Despite these hurdles, the family is determined not to allow the historic structure to be demolished for high-rise development, as it’s the city’s oldest remaining theatre. Brar mentioned that the next owner must be dedicated to its upkeep, a task made more difficult by the family’s relocation.
Fletcher remains optimistic, stating that interest in the Princess continues, with prospective buyers from various locations, and the search for the right new owners goes on.