Plaza Theatre's second act: a $34 million restoration, a gala reopening, and a $10 million debt
The historic theater reopened in December with Cynthia Erivo headlining. Nine months later, the foundation is still working to repay the city $10 million.
PALM SPRINGS: The Plaza Theatre's restoration, reported at $34 million when it reopened, was completed in November 2025, and the historic venue reopened with a December 1 gala headlined by Cynthia Erivo. Nine months later, the theater is programming its first full seasons while its foundation works to repay the city $10 million.
The restoration returned the 1936 movie palace to its former glory, with the facade, marquee, auditorium and back-of-house systems renewed. Later accounts, including the National Trust for Historic Preservation, have put the full rehabilitation cost at $40.3 million, reflecting the project's private donations, state grant and federal historic tax credits as well as city support.
The Plaza opened in 1936 and spent decades as a premier desert entertainment venue. By the 2010s, the building had deteriorated badly, and its rescue became a civic cause, championed by the foundation that raised the restoration money and the city, which put public dollars behind the project.
The restoration returned a 1936 movie palace to its former glory.
The December gala was a major cultural moment for the city, with Erivo headlining a night that signaled the theater's ambitions. The programming since has mixed concerts, comedy, film and community events.
The $10 million question
The restoration's financing included city money, and the foundation behind the project is still working to repay $10 million to the city, according to September 2026 reporting. An earlier agreement called for repayment within three years after construction ended.
The dynamic is familiar in historic preservation: the public sector bridges the financing gap to save a landmark, and the nonprofit operator spends years paying it back from fundraising and operating revenue. The theater's first full seasons will show how the venue performs.
For downtown, the theater's return is already tangible. A programmed historic venue brings evening activity to the surrounding blocks.
The programming choices ahead will define the theater's identity. A restored movie palace can be many things: a concert hall, a comedy club, a film venue, a community stage. The foundation's booking decisions in these first full seasons will answer the question the restoration left open, which is not whether the building is beautiful but what it is for.
The Post will continue to cover the theater's seasons and the foundation's fundraising progress, including the milestones on the road to repaying the city's $10 million.
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