Proposed 4,000-seat theater a ‘game changer’ for Aurora

A proposed 4,000-seat theater could be the key to keeping arts and entertainment alive in downtown Aurora.

The theater, which would be known as the City of Lights Center, would help attract larger acts and add to the Aurora Civic Center Authority’s revenue stream to support its other operations, including the Paramount, Copley and Stolp Island theaters and RiverEdge Park.

The theater, projected to cost $125 million to build, would sit on city-owned property at New York and Lake streets. It will include a 600-person event space.

“We’ve been talking to the city since sometime in 2023 about how to find a path to keep ACCA doing what we’ve been doing long term,” said Tim Rater, president and CEO of ACCA. “And there’s two ways to do that.

“We can cut programming and stop doing what we’re doing right now and change how we do Broadway,” he said. “Or, we have this other option, which is the City of Lights Center. By operating and programming the City of Lights Center, we believe that will cover our operational deficit.”

Since the pandemic, the city has given ACCA $11.5 million to help fill budget gaps. Before COVID, the ACCA broke even in its operational budget, Rater said.

Though crowds have returned and the Paramount now enjoys the largest subscriber-based theater program in the nation, ACCA’s revenue stream has not kept up with costs.

Last month, the city council’s finance committee got a first look at the project and backed funding for the first phase, which would help keep ACCA afloat until the new theater is built.

On Thursday, ACCA and city officials hosted an open house to showcase a three-phase plan that includes the construction of the new theater.

City council members on Tuesday are expected to vote on a $13.8 million bond issue for phase 1 of the project, which includes $10 million to buy the valet parking garage on New York Street from ACCA. Another $3.8 million would be used to reimburse ACCA for construction costs at Stolp Island Theater and for improvements to the riverwalk promenade.

Early next year, city council members will be presented with phase 2, which includes approving the new theater. If approved, Rater said the City of Lights Center could be open in 2027.

“It will be a game changer for our downtown, the city and the region,” Aurora Mayor Richard Irvin said in a statement.

The 4,000-seat theater would be larger than other suburban venues and the only one of its kind in the western suburbs.

The higher capacity theater would open opportunities to draw bigger acts to Aurora. The Paramount Theater, the largest facility run by ACCA, seats 1,850 and is too small for larger acts like Keith Urban, Rater said.

In addition to boosting ACCA revenues, a larger venue would mean more visitors to Aurora’s downtown district and its restaurants and hotels, Rater added. ACCA also plans to use the new theater to help grow its subscription-based theater, which already has 37,000 patrons and other programs.

Though a financing package is still being worked on, the city could use tourism-related revenue — such as hotel taxes, ticket taxes or food and beverage taxes — to pay for the bonds for the theater, said Christopher Minick, Aurora’s chief financial officer and treasurer.

Though the proposal appears to have support at city hall, at least one alderman has concerns about project costs and ACCA’s financial health.

Alderman John Laesch, who was at Thursday’s open house, said the city should have more financial information — including revenue projections for the new theater — before voting on the initial phase and approving more than $13 million in bonds.

Given ACCA’s recent need for city dollars, Laesch said he expected ACCA to come back with a “belt-tightening” plan, not one to build another theater.

Rater noted that a feasibility study, which is nearing completion, indicates the region could support the theater. Those findings, along with other information, are expected to be presented to city council members before council members vote on phase 2 of the project, which includes approval for the theater.

https://www.dailyherald.com/20240906/news/proposed-4000-seat-theater-a-game-changer-for-aurora/