Friends of the Drexel, Inc. has purchased the assets of Drexel Theatre, Inc., converting the 1930s Art Deco cinema from a for-profit enterprise into a non-profit organization. According to Richard A. Stoff, founding Chairman of Friends of the Drexel, the purchase strengthens the theatre and secures its future as Columbus' premier arts cinema. Friends of the Drexel has also entered into an agreement with CAPA to manage the theatre on its behalf, as well as the adjoining Radio Café.
"We have received tremendous community support since forming our organization last year," said Stoff. "The Drexel is a well-loved, cultural jewel, and with this new business model and the expertise of CAPA, we are confident it can be a sustainable provider of unique arts content and a vibrant community meeting place for many years to come."
Beginning March 18, CAPA will assume the responsibilities of management, programming, marketing, accounting, operations, and development. It will also begin evaluating potential structural and aesthetic renovations as well as technology updates.
"The preservation and renovation of historic theatres is obviously something near and dear to our hearts," said CAPA Board Chair Michael Petrecca. "To have the opportunity to help support an arts and cultural staple such as the Drexel is simply a thrill for us."
Under the direction of CAPA, former Drexel owner Jeff Frank will continue serving as Operations Manager of the theatre. "The support and stability provided by both CAPA and the Friends of the Drexel assures the continued success of the theatre as a community asset," stated Frank.
"The Friends of the Drexel are working hard to assure the historic theatre will continue to positively contribute to the development of Main Street and entertain the citizens of Bexley and central Ohio. We wish them the best of luck," stated Bexley Mayor
John Brennan.
"Cooperation and consolidation are essential to sustaining and developing the arts in Columbus," said Doug Kridler, President and CEO of The Columbus Foundation. "This strategic new business plan coupled with CAPA's knowledge and experience will make great strides in securing the future of this local icon for excellence in film."
Comments
To post a comment, you must
register and
login.
