From the Article:
After refilling storefronts and offices in the former Fox-Bay Cinema building in Whitefish Bay, New Land Enterprises is turning to new strategies to reopen its historic cinema space by the end of next year.
That means likely converting it from a movie theater into an event and live performance hall, with a connected restaurant and cocktail bar. That’s according to a recent presentation to Whitefish Bay’s Community Development Authority by Sheldon Oppermann, chief financial officer and general counsel of Fox-Bay theater owner New Land Enterprises.
New Land plans to issue a national call for proposals to find operators for the theater and restaurant space. The goal is to open them by the end of 2024, Oppermann said.
“We need to get the space back open,” Oppermann said. “We’re literally going out with a plan and a target. We’re targeting people to say we think this would work for you, and we want you to give us your best proposals.”
The theater closed its operations during the Covid-19 pandemic, and reviving the space has emerged as a leading economic development issue for Whitefish Bay officials. The village has already approved money for some renovations that New Land has already completed to refill office and retail spaces in the building.
Over the past year, New Land officials talked with two or three potential movie theater operators but found the concept would not be sustainable in the Fox-Bay building, Oppermann said. It also sought input from Whitefish Bay residents about the future of the building.
“We dug a little further and heard inside of that, what was so important about a movie theater,” Oppermann said. “What we heard was the village was looking for a place where people can meet and go with friends.”
Instead of a movie theater, New Land will seek to create a different kind of gathering place in the Fox-Bay building. It would bring in a mix of new destinations that together would keep the building active and generating money.
“The Fox-Bay theater really wants to be an entertainment venue,” Oppermann said. “That is a little broader than a movie theater but still a very specialized thing.”
A cocktail bar with food and drink service would fill a space next to the theater where a bar already is located. That would keep the building active and generating money for a future operator even if there are not events in the theater itself.
“We think this is cocktail and light food,” Oppermann said.
The theater space itself could still show movies but would also serve as an events venue for weddings or other gatherings. It would also host live performances, such as music or stand-up comedy, Oppermann said.
In addition to the events venue, a second-floor space would become a full-service restaurant, Oppermann said. The restaurant could have private dining rooms with tables on a balcony overlooking the theater space.
That restaurant serves as a third potential line of business for the former theater space, along with the cocktail bar and event hall.
“The people we've spoken with have said the food and beverage venue is going to have to be able to stand alone," Oppermann said.
New Land within 90 to 120 days intends to apply for building permits to start renovating the space for those new uses, Oppermann said. The renovation will include adding an elevator to that second-floor space, which is a costly addition to the project.
“It has a direction,” he said. “It is a very clear, defined program and scope.”
New Land over the past year has already refilled other parts of the building, which has storefronts and a third-floor office space in addition to the theater itself.
The buildout for the top floor of the building for a Northwestern Mutual financial adviser office has been completed, and the space is occupied, Oppermann said.
Hair salon Drybar, the JS Nail Spa and Live Hydration spa are all open in the retail spaces facing Silver Spring Drive. Oppermann said New Land will have exceeded $2 million of funds invested into the building after that work is done.