In a bid to save the historic Garden Oaks Theater from demolition, a nonprofit has reached a deal with an investor that owns the building to buy it for $7.1 million — but backers only have 90 days to find the money.
The 80-year-old former theater had most recently been home to Grace Church since 2008. In October, however, the church sold it to Heights Investment Fund, according to Harris County property records. Organizations like Arthouse Houston and Preservation Houston have raised concerns about its future under the investment fund’s ownership — especially since Garden Oaks Theater is not a protected landmark according to the Houston Office of Preservation Landmarks.
After protests, an online petition and talking with City Council members, Arthouse Houston Director Maureen McNamara said Saturday it was able to strike a deal with the investment fund Friday night to buy the building for the $7.1 million that the fund paid for it…