The theatre was transformed into its current incarnation in 2008; becoming one of Tampa's premier live music and events venue.

[5] Field’s ambitions never materialized, and a bank foreclosure in 1987 forced him to close his doors.

[6] The building underwent a $2 million renovation and on June 26, 2008 opened its doors as The Ritz Ybor, a special events and live music venue.

The venue counts with over 17,000 square feet (1,600 m2), three distinct rooms, a grand foyer, full-service bars, a state-of-the-art lighting system and a caterers prep kitchen that allows for outside licensed and insured catering.

The Grand Foyer, which connects all three rooms, houses the original terrazzo floors, Art Deco mirrors and wall sconces.