Interesting: (because it's another entertainment venue....the J Shore has to be
jointly
marketed better then it is today to get tourist $...)
LONG BRANCH The city and the redeveloper seeking to bring an arts and
entertainment
district to lower Broadway have signed an agreement with a California-based
production
company to bring live productions to the long-closed and deteriorating
Paramount
Theatre.
The theater building, which in recent years had become a warehouse for
Siperstein's Paint
and Decorating Centers, is considered one of the two necessary anchors to the
zone.
The other anchor is the New Jersey Repertory Company, which also will receive
refurbished facilities under the redevelopment plan, known as Broadway Arts
Center.
The two theaters will offer very different entertainment to customers. NJ Rep
will
continue to premiere original works in its 350-seat facility, while the
Paramount will
offer a combination of Broadway-style shows, concerts, ballet and opera in a
refurbished
1,850-seat facility, which will be the largest cultural entertainment venue in
Monmouth
County, according to Todd Katz, managing partner of BAC.
The agreement gives the city, BAC and Cornerstone Entertainmentment
International Inc.
270 days to negotiate exclusively to finalize the contract, which will require
an infusion of
more than $20 million to refurbish the Paramount.
Michael Coleman, Cornerstone co-president and chief executive officer - and New
Jersey native - said the money can be raised. The company already has investors
for the
Paramount, he said.
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