State Palace Theatre Purchased By Developer
The State Palace Theater, a piece of New Orleans history, may finally receive a long overdue facelift. Developer Gregor Fox recently announced the purchase of the Canal Street relic for $3.5 million.
The State Palace, built in 1926, was flooded during Hurricane Katrina and fully shut down in 2007. Plans to convert the theater into a museum and concert venue pre-Katrina never happened. Now, Fox says he hopes to complete a partial renovation of the 3,000-seat theater's exterior and adjoining retail space within two years.
Fox says a full restoration could cost $10 million and take a decade to complete. The theater is is one of a number of post-Katrina Canal Street restorations, including the Saenger and Joy Theatres.