Granada Theater, the city’s 87-year-old defunct movie theater, has a new manager
at the helm, Diana E. Holte-Cosato. The longtime Inland Valley resident is passionate about restoring the 22,000-square-foot building, which includes 22 offices.
I met with her on Friday to get a glimpse of her vision with this story.
She is not the first to lead efforts to restore the theater (you may recall my 2009 article featuring David Perez and his hopes for the site) and she faces a similar challenge — money. Holte-Cosato will have to raise $3 million to $5 million to get the job done.
The 1926 theater went into foreclosure in 2009 when church that bought the Granada was unable to pay the $2.2 million mortgage. Last reported, the Tarzana-based investment firm, Overland Financial, that had financed the church’s loan owns the Ontario movie theater.
Holte-Cosato is not exactly sure about the current financial standing of the building. She only got involved in the theater two months ago which is when she started operating her company, Route 66 Academy of the Arts, out of theater.
Her plans are to bring in a tenant for the empty corner space (show in the left) which she says could be a perfect fit for a coffee shop.
She admits that to in order keep her vision her business also needs to succeed. She currently operates her academy out of a 280-square-foot room on the southwest corner of the theater building with the hopes of expanding it into other office spaces upstairs. She said a growing part of her clients are Spanish speakers.
Here is a photo gallery from my 2009 visit. Some really cool pics from the place. I
snapped this quick photo, which I shared on my Instagram account, from the original elevator inside the building.
For more information about the theater or Route 66 Academy of the Arts, call 909-456-9087 or visit 110 W. C Street in Ontario.