Virginia: Richmond's Landmark Theater to Become Altria Theater

Source from:  Richmond (VA) Times-Dispatch  07/13/2012

By October 2013, the historic Landmark Theater near VCU’s academic campus will become the Altria Theater. City officials and executives with Henrico County-based Altria Group Inc. formally announced this morning that the parent company of Philip Morris USA has donated $10 million towards a $50 million renovation of the theater.

The company received naming rights as part of the agreement. "Everyone at Altria Group is really proud to be a part of this effort," said Martin J. Barrington, who became Altria’s chairman and chief executive officer two months ago. "It represents a great collaboration between the public and private sectors to make our community what it is and what it can be in the future," Barrington said. "All of us at Altria hope and expect and believe that the renovation of this theater – the Altria Theater – is really going to prove to be a catalyst for further economic development," he said. The first phase of renovation is expected to start next week, said Richard M. Parison Jr., executive director of CenterStage, the nonprofit that manages the theater. The theater, opened in 1927, was formerly known as the Mosque. Richmond City Council voted in May to transfer ownership of the theater to the city's Economic Development Authority and approved $14 million in city money to help finance renovations. Richmond Mayor Dwight C. Jones said raising money through naming rights to the theater was "an important part of our strategy" in getting the renovations done. "This investment is extremely important because it is a driver for economic development and jobs," Jones said. "It will bring people into downtown Richmond." The renovations include new restrooms, fire alarm controls, fa?ade repairs, emergency lighting, roofing work, box-office and office improvements, new elevators and concession areas, as well as seating and theater-system upgrades. Enditem