A vote yesterday by the Long Beach Redevelopment Agency to assist entertainment venue The Vault 350 with $250,000 for a restoration could mean good things for all of Pine Avenue, which has struggled to attract and retain businesses through the recession. Click here to read the Press-Telegram‘s article about the agreement, in which Karen Robes Meeks describes an awe-inspiring blueprint for the new building:
“Medina and Kaloyan plan to renovate the front of the building with a cinematic marquee, box office and presentation case to announce programming and merchandising opportunities and incorporate some of the 1920s Greek Revival architecture recently uncovered from inside the building, built in 1921 by Parkinson & Parkinson, the architects of the Los Angeles Memorial Coliseum.“
The decision by the RDA to increase its maximum allotment from $180,000 to $250,000 for The Vault 350 signals a willingness to see the project completed, and done right. Many see the entertainment venue as the area’s best hope for attracting new life downtown. Does this mean other Pine Avenue businesses could benefit from a new approach to the area?
During interviews for our story yesterday about a partnership between Smooth’s Sports Grille and Bouchee’s Bistro, both restaurant owners alluded to the RDA decision and said they hoped they would be able to secure assistance for a renovation of their own.