The City of Las Vegas Redevelopment Agency has approved $4.2 million in reimbursement funding for THIRD Street, a nonprofit arts and media incubator working to reshape downtown with a major creative venue and media facilities. The conditional agreement supports transforming the former Eclipse Theatres building into a home for performance, production, and education.
Plans call for converting the old movie theater into a 52,000-square-foot creative center anchored by a flexible theater that can seat up to 600 people. Construction is projected to cost $7.47 million. The city will reimburse $4.2 million once THIRD Street raises roughly $3.3 million and meets set performance metrics, and the nonprofit must secure complete renovation financing before any public dollars are released.
THIRD Street CEO Daz Weller framed the commitment as a turning point for the effort. “The city’s investment is a powerful vote of confidence that strengthens this project’s viability in a way few other commitments could,” Weller said in a statement. “Las Vegas has no shortage of exceptional talent. This investment is a catalyst for bold new work, giving artists the platform to create and audiences new ways to experience the cultural richness of their own city.”…