Pasadena Playhouse purchases its building back (Photo – Eric Staudenmaier)
In a momentous announcement coinciding with the 100th anniversary of its iconic building, Pasadena Playhouse has successfully acquired the landmark 1925 facility, ending more than five decades of private ownership.
By Rena Kurlander
The acquisition, finalized on April 4, marks the theater’s return to full ownership of its historic campus— a cornerstone of American theater history and a key cultural site in Southern California.
Located at 39 S. El Molino Avenue in Pasadena, the Playhouse is one of the region’s most cherished cultural venues, nestled within the Pasadena Playhouse Historic District. The 70,000-square-foot campus includes the original theater, a restaurant space, and the six-story annex, the Fannie E. Morrison Building, which was added in 1936. This annex housed the renowned College of Theatre Arts, further cementing the Playhouse’s influence on the arts community.
The $15 million purchase was made possible through a fundraising campaign, which has already raised 75% of its goal. Lead gifts from the Perenchio Foundation, along with matching donations from philanthropists Terri and Jerry Kohl, have been instrumental in making this dream a reality. Other key donors include The Ahmanson Foundation, The Ralph M. Parsons Foundation, Brad and Pamela King, Harmon and Lea Kong, Leigh and Harry Olivar, Jane Kaczmarek, Bingo and Gino Roncelli, and Erin and Jeremy Baker.
“This is an inspiring community moment, and we should all share in the pride and joy of it,” said Erin Baker, Chair of the Pasadena Playhouse Board of Trustees. “With this purchase, we are committing to revitalizing the powerful original vision of the Playhouse and bringing it to life for a new century.”
The acquisition represents a major milestone in the Playhouse’s history. In 1970, the Pasadena Playhouse faced financial difficulties and filed for bankruptcy, resulting in the loss of its building. After the bankruptcy, Bank of America took control of the property, which remained vacant until 1975, when the city of Pasadena intervened to secure it. In 1979, the city transferred ownership to developer David Houk, who was tasked with restoring the theater and developing the surrounding area, under the condition that he lease the theater back to the city for just $1 per year. In 2001, real estate developer Greg Varon of Burbank purchased the building for $4.5 million through Bankruptcy Court after Houk, the former owner, filed for Chapter 11 bankruptcy. The building remained in the Varon family, managed by Greg Varon’s son, Brandon, until it was eventually repurchased by the Playhouse.
“For most of our history, we’ve been making extraordinary theater here while essentially renting our own home,” said Producing Artistic Director Danny Feldman. “Today, that changes. Thanks to the generosity of our community, this building is finally back where it belongs—with the people who built it and believe in its future.”
Designed in the Spanish Colonial Revival style by Elmer Grey, the 100-year-old theater has long been a cultural touchstone. In 1975, it was listed on the National Register of Historic Places, recognizing its architectural and historical significance. As the facility approaches its centennial milestone in May 2025, the opportunity to restore and reimagine the space for the next century has never been more exciting.
The Playhouse’s artistic and financial resurgence in recent years has been nothing short of extraordinary. Under Feldman’s leadership since 2016, the theater has received the 2023 Regional Theatre Tony Award, experienced box-office growth, and achieved new heights in fundraising. The announcement of the property purchase was made to a sold-out crowd at the Playhouse’s annual gala, where the event raised over $1 million for the first time.
Looking ahead, Pasadena Playhouse is poised for an exciting new chapter. “Owning our historic campus unlocks endless possibilities for what Pasadena Playhouse can be in its second century,” said Feldman.
Back when they went bankrupt they held an auction for the contents. You got to wander all over the building. We didn’t want to buy anything, but the place and the stuff was fascinating.
Great article! And I am so glad to hear the news.
Thank goodness! There have been far too many successful, popular businesses that have had to close lately, solely because they were priced out of the buildings where they located by the landlords.