I’m still reeling from the demise of our perfectly good theater.
What was going to cost 1.5 million to start developing from the old building is now going to have to be rebuilt.

Still sure that the original plans for the facility in Eagle River is a good plan, we now have to build it from scratch. I have been researching what it will take to build the thing we’ll all be proud of. The project will require about 12 million to become reality.

I’m not giving up.

I just learned some new info that makes this situation all the more hard for me to take. Strategy not being my strong suit I trusted some people surrounding the dealings of acquiring and saving this theater. Had I gone with my gut feelings and taken different actions sooner instead of letting too much time pass we would be having different words today.

What I have just learned is that the theater parcel can still be purchased for $850K. At this time it’s a cash deal. The demolition is proceeding. What was once a pristine turnkey theater is now becoming a shell. The equipment is leaving and some environmentally sensitive materials have been removed. It would need some remodeling. What was once a viable project on a shoestring budget now becomes more expensive.

But still doable if people wanted it to go because the price is affordable. Take a look at the about page of this site if you aren’t aware of what was planned. The whole mission wasn’t about making heaps of money but rather to bring a great thing to the community.

It may be somewhat too late but I’m still game if you are.
Patrick 907 830 2615

Hello,

I regret to inform that currently the building is in the hands of the demolition company.

In spite of having a good plan and reasonable level of financing it seems there are unseen forces working against the theater that I wasn’t swift enough to thwart. Had I known several months ago what I know now the situation today might be different than it is.
I didn’t quite do everything I possibly could to eliminate all doubts. For that I apologize.
This is heartbreaking for many people. We had the perfect opportunity to do something really cool for everyone from Hickel Inv. all the way down to the youngest patrons. It was a one time chance. I let it slip.
There is a candle of hope for a miracle left but that’s all. In short order the building will be gone for good. I wish I could turn back the clock and fill the gaps I believe I left uncovered.
I’m really sorry for this terrible loss to the community.

Patrick

Hi,

As you can see, critical dates have come and gone and the building still stands. Other entities made plays for the theater building. I know some but not all the details. What happened isn’t important now other than their negotiations seem to have failed.

So I’m back where I was some time ago. I’m seeking partner(s) interested and capable of financially helping to save our theater. I have a good plan, a fair amount of research that conservatively shows reasonable chance of success.
The potential is much higher.
The benefit to our community and beyond is huge.

Surely if I find the right people we can do this.

Hi.

At present to the best of my knowledge the situation is that we are at the deadline. Today is the last day for offers to be made. Tomorrow the owners supposedly will proceed with plans and action to demolish. Unless there is a solid offer on the table.

I have so far failed in my efforts to secure funding to execute my vision for the theater. I needed 250K in seed money to pull this off and don’t work at the right end of the income spectrum to have that kind of liquid capital. I regret not trying to crowd fund that seed money. For example if I had tried and 3% of our population here responded with $100 there would be about $100,000 to negotiate with. That would have made all the difference in the world for me. I didn’t know how to do it and wasn’t thinking creatively enough to figure it out or even to accept the help that was offered.
For that I apologise.

I do know there are other entities that have made offers recently. What their vision for the building is I cannot say. One good thing I can say is that interest in this building was very quiet till I made noise which resulted in a number of people talking. I’ll take credit for that.

So there you have it. I promised I’d keep trying till something stops me. The day is not done yet.

be well

There has been a lot of talk regarding the building and the future of the theater (not necessarily the same things). I’m kinda on the edge of the loops at this time. Not sure where it is all going yet.

My efforts to stir the pot are essentially successful. The theater isn’t going down without a fight.

That said, it is also a difficult thing to save. Deals are being discussed. Several directions are possible. It’s complicated to put a deal of this magnitude together in the time available. If a deal isn’t struck in the near future it will be curtains for the Eagle River Theater.

More when there is more to say. Cross a finger.

We may have a slight extension to the life of the theater.

I’ve stirred the pot somewhat but haven’t raised the money to save it yet. Still doing what I can. If I had money this would be a done deal. The problem is me. I’m lacking seed money, a history of restaurant experience, a history of cinema experience, and the building is single purpose so if it flops an investor is stuck with an albatross.

I believe we have developed a conservative solid plan and am doing everything I can to prove it. Fortunately our efforts have generated talks with a handful of potential investors.
Talk is cheap but I’ll say it anyway. I’ve dedicated a LOT of work and time to getting this project going. I’ll dedicate a lot more to keeping it going. I’m not giving up till something stops me.

We’ll see where it goes.

The rest is rumor and there are several but I’ll keep mum on that for now.

cheers,

Patrick

(old picture. don’t be mislead)  

Hi,

The situation is this: Our theater in ER is about to be torn down. It can’t sit empty for another winter. From the owner’s point of view the cost, liability, headaches are more than it is worth. I’d do the same in their shoes.

This, October, may be it’s last.

That is NOT saying the building is worthless. Personally, I know the theater has huge value to this community which is why I have worked hard to put together a realistic, sustainable, long term plan to operate the theater in it’s strengths.
For a year I have been doing all the legwork to create a place I believe is worthy of repeat patronage.

How would a dining theater with second run movies, good food, beer, tables, a stage, music events, dinner theater, affordable rentable venues for meetings and your own shows, plus huge attention to your good experience and a lot of fun programming appeal to you?

The research is done. Expenses for building operation, improvements, traffic and patronage analysis, just about everything that I can do without actually having the money to do it, I have done.

And that is where things stand. IMHO it would be a shame to lose the potential benefit to the community.

Peace

Hi,

Here’s the twitter sized version of the business plan for the theater.

Headings first then section unless it all fits in one go.
Value Proposition:
We bring good cinema and stage entertainment and good food together in the only dining theater in the area.

Market Need:
Anchorage to Wasilla needs another dining theater.
ER needs a cinema and stage theater venue..
The ER Business Blvd needs revitalizing.

Solution:
Repurpose the multiplex into 2nd run, family, independent, documentary, stage, musical, and meeting space with great food and experience.

Target Market:
Eagle River residents would rather not go to Anch for a show.

Competition:
Tikahtnu Regal – 1st run overall
Valley Cinema – 1st run Valley traffic
Totem – 2nd run
Bear Tooth – 2nd run dining theater
Home viewing

Funding Needs:
aprox $400,000 for kitchen equip, digital projection, screens, house tables, stage, furniture, office etc. equip, fees, wages, insurance.

Sales Channels:
Concession
Online ticket sales.
Pre show advertising.

Marketing Activities:
Website, Fandango, print ad, in person, TV, print & radio news.

Financial Projections:
Costs calculated by researching mtls and comparing to similar.
Sales projected by scaling competition’s traffic and conservative estimating.

Milestones:
research
biz plan
funding
crew
kitchen equip
digital projection
open
house tables
stage
backstage
restaurant next door

Management Team:
Patrick – prime mover, toilet scrubber.
? – food manager
? – booth manager
Tony, Ron, Patrick, You – programming

Hi.
Here is what is going on with our efforts to re open the theater. For about a year we’ve been researching all imaginable numbers for expenses and revenues in order to build a true financial model that demonstrates that this can be done and is worth investing in. Not surprisingly there are lots more expense slots than revenue slots and boy are they easier to fill in! To be honest I have some good ideas on doing this but still the viability is nip and tuck.
So where are we?
We have gathered real data, real quotes, and real prices and have tried to keep our prices down to the best deal anywhere. I’m cheap and set the prices where I’d want them. I’ve also had to amend that tactic a wee bit.
The bottom line is we intend to keep the prices as low as we can and still operate.

We have a financial model now that I trust. It’s crunch time. Here’s where I can use and will take all the help I can get. I have the infrastructure sorted out. Now need the dough to make it go. Which I do not have yet.
I tell you this so you know what’s going on. I’ve tried to hint that I’ve strived to create something that is good for everyone, EVERYONE affected by it.
I need to hear ANY suggestions you might have. Please don’t hesitate to contact me with whatever thoughts occur to you.
Thanks for your time. Patrick
contact@eaglerivertheater.com