Potential Ingersoll Dinner Theater tenant backs out
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Rendering: Sequel Architecture, courtesy of Connor Delaney
A tentative deal to occupy the longtime vacant Ingersoll Dinner Theater recently fell through, building owner Connor Delaney tells Axios.
Why it matters: It means progress on interior renovations and the ultimate reopening of the historic site are now back on pause.
Catch up fast: The building has been vacant for about a decade and faced possible demolition prior to Delaney purchasing it last year for $550,000, according to the Polk County Assessor.
- A new roof was recently completed to stabilize the structure, plus inside demolition has taken place to create a customized remodel for a new tenant.
What's happening: Unforeseen circumstances led to the prospective tenant opting out of the project, Delaney says.
- He declined to provide specifics about why the deal was not completed or name the prospective tenant, but said it was with a local entertainment venue business.
Flashback: The nearly 85-year-old building was originally a single-screen theater, one of the first in central Iowa to be fitted for movies with sound.
- It became a live theater venue in the 1970s and operated as the dinner theater, restaurant or club space for decades before shuttering.
Zoom in: Delaney says the $4.2 million restoration has already been awarded federal tax credits for historic renovations while additional state and local incentives are in the works.
- Those would help make leasing the space more affordable.
The bottom line: Delaney is again searching to find an entertainment venue and/or food and beverage operator — but says other types of uses or businesses may be considered at some point "in the near future."