Two of the most iconic buildings on Foster, both with equal potential to transform the central core of the corridor, have seen their hopes at a rebirth tempered a bit.
One building—the Phoenix Pharmacy—just saw talks broken off between its owner and Mercy Corps. After months of negotiating, the two parties were unable to agree to terms on a deal that would have led to Mercy Corps and ROSE CDC acquiring the building for some community benefit. That’s one less bidder for a property that has had trouble finding suitors willing to pay for the building AND needed renovations. They were also the most serious bidder to come along in recent history.
Now, days after the thud of that deal was announced, another building is finding similar trouble maintaining its rebirth.
The Bob White Theatre will be without a tenant after recent events have resulted in its lease being terminated with Pulsar Productions. While it’s a bummer to see doors shut again, it isn’t necessarily bad news. For one, the space can still be rented out to host events. Secondly, an opportunity now arises for another group to manage/lease the space. And with so many complaints about the current venue’s format, maybe that’s a good thing.
And there’s more hope. The owners have to pay property taxes. And the potential of these spaces is too much for them to sit underused—or vacant— forever. Now it’s just a question of the owners’ motivation to make something happen. With a new streetscape plan (presumably) in the works, and so many positive changes surrounding these spaces, hopefully it’s just a matter of time.