Family trust acquires downtown St. Petersburg’s State Theatre.
ST. PETERSBURG — The State Theatre, a historic concert hall on St. Petersburg’s Central Avenue, has been acquired by the Kevin L. Chadwick Family Trust.
The iconic property captured the attention of local philanthropist and third-generation St. Petersburg resident Kevin Chadwick, the operator of a Keller Williams franchise with 10 offices in Tampa and 1,300 agents. Chadwick, in a press release, says his parents went on their first date at the State Theatre.
“I had been thinking about a legacy property for our family, and what better legacy to have than the State Theatre in St. Petersburg?” Chadwick states in the release. “I am excited to restore the theatre to its historic landmark grandeur that will make St. Petersburg proud. It is our family’s mission to re-engage, re-inspire and re-connect our community to the theatre as a local venue that they will frequent often, and are excited to show off to visiting guests.”
According to the release, Chadwick plans to invest approximately $1 million, in three phases, to renovate the property and bring it up to code.
Phase 1, slated for completion this summer, addresses functional obsolescence and any deferred maintenance. By the end of 2018, Phase 2 will be underway and include a complete facelift for the front building façade as well as a new marquee. A completely new interior buildout, including three bars, will begin in spring 2019 and mark the start of Phase 3.