The Rep Theatre purchased the two-story building at 103 Seventh St. NE for $410,000 from William Kolb and the Kolb family, who owned it for 13 years. That complex once housed the early version of the Studio Academy Charter School.
Masbruch said several things, including the theater’s history, played into the decision to buy a building.
The Rep Theatre started in 1984 and performed 23 seasons in a leased building at 314 1⁄2 S. Broadway. The group was surprised in 2007 when it was abruptly notified that it had a few weeks to vacate the building, despite having performances scheduled.
While there wasn’t concern that would happen in the Seventh Street building, the theater group didn’t want to ever be put in that position again.
Once negotiations were worked out with the Kolb family, the Rep began raising funds for the building’s purchase. Mayo Clinic provided a matching grant, and the family of longtime supporter, the late Eric Donaldson, also helped with donations among other “numerous generous” donors. F&M Community Bank handled the mortgage.
The purchase comes during a time of growth for the Rep, which sold out almost of all of its recent performances.
“It’s been a very good year,” Masbruch said.
Owning the building opens the door for the non-profit group to work on a Phase Two renovation plan.
The hope is to expand the 90-seat theater space to eventually accommodate 120 seats, he said.
