The theater opened April 8, 1926 with Colleen Moore starring in the first movie version of the hit musical Irene.

[4] The owner/developer had a "compromise" plan—to remove the back fly system (see also batten) - so that a separate independent structure containing eight units of housing condominia could be constructed while preserving the existing proscenium arch, maintaining the existing auditorium and lobby and their extant detailing.

Consideration for the removal and reconstruction of the raked theater floor and seating to allow for a new parking level below, addition of windows, and the upgrade of restrooms to conform with modern building codes were also reviewed in depth to conform with the Secretary of the Interior's "Standards for the Rehabilitation of Historic Structures".

[7][8] In 2005, a similar challenge was successfully made against the negative declaration to the developer's original plan to demolish the entire theater to build more condominiums.

[17] The venue, which features 50 vintage arcade games, a full bar, and live music, opened in December, 2017.