Sale of La Reina to Developer Final

A community effort to save the La Reina Theatre in Sherman Oaks from demolition suffered a severe blow Thursday when the sale of the building to a developer who plans to put a two-story shopping plaza on the site became final.

Representatives of Mann Theatre Corp., which had owned and operated the Art Deco movie house, confirmed Thursday that escrow had closed on the property and that the 46-year-old structure is now owned by Developers Equities Inc. of Beverly Hills. The purchase price was not disclosed.

The development firm’s president, Dennis Bass, said in a press release that he will proceed with plans to build a 45,000-square-foot retail and restaurant development at Ventura Boulevard and Cedros Avenue.

Jackie Brainard, a spokeswoman for the developer, said Mann would continue to show movies at the La Reina for a limited time through a lease from Bass. However, all indications are that the theater will be razed or boarded up in a year.

Although the City Council declared the La Reina a historic monument earlier this month, the designation only protects the structure for 360 days, during which time the owner is forbidden to demolish or alter the building without approval from the city’s Cultural Heritage Board.

The moratorium is designed to enable others who wish to preserve the structure to present purchase offers to the owner.

Presumably, another developer interested in retaining the theater could have outbid Bass. But now that he has the title, there is little the city can do to prevent him from proceeding with his plans. The property is in a six-story commercial zone, so he would not need city approval for a two-story building.

Leaders of a La Reina preservation drive had expected Bass to withdraw his purchase offer after the City Council declared the theater a monument, reasoning that it would be too costly for him to delay construction for one year.

However, Bass has said in the past that, if the city named the La Reina a monument, he would begin construction on three adjoining properties and either wait the year to demolish the theater or board it up and immediately build around it.

Brainard would not say Thursday which course Bass plans.

Lee David, founder of the Friends of La Reina preservation group, said members would continue to protest Bass’ development plans and try to persuade him to sell the property to someone willing to preserve it as a theater for movies or performing arts. David said that Bass may need city approval for a parking structure and that his group would oppose it.

“There has been talk of a boycott of the shopping center,” said David.