Architect John Eberson was hired to design the theater, after the success of his work with the Majestic Theatre in Dallas, Texas.

The venue was renamed the "Olympia Theater and Office Building" by the wife of the land owner, Mrs. A.E.

The theater began to host many acts including the Marx Brothers and Gypsy Rose Lee.

The former movie palace was converted to a rock concert venue and named the "Gusman Cultural Center".

[6] With the new era, the theater hosted concerts by Jimmy Buffett, The Police, Molly Hatchet, Devo and Supertramp.

The venue continued to concerts by the Florida Philharmonic (defunct), Annie Lennox, Luciano Pavarotti and Johnny Cash.

[8] The venue had a grand reopening in October 2002, under the name the "Olympia Theater at the Gusman Center for the Performing Arts".

[9] In 2009, another rounds of renovations began to repair the stage, acoustics, HVAC systems, replace seating and restore the original Olympia marquee.

The team works with various promotion companies including AEG Live, Shock Entertainment, the Rhythm Foundation and Poplife.

The cost and effort of maintaining a COVID-19 pandemic shuttered venue with major capital needs and urgent repairs was not sustainable.

The Board of Directors and Executive Staff faced the difficult decision to return management and operation of the historic Olympia Theater & Office Building to the City of Miami in 2020.