Playhouse’s future brightens

Santa Monica Playhouse has raised the $500,000 necessary to begin negotiations to buy 49% of the building in which the company is housed, sparing the company from possible collapse, playhouse officials announced.

The “Save the Playhouse” campaign achieved its goal on June 4. Although the playhouse had earlier announced a deadline of July 31, it was changed to June 1 earlier this year, after lawyers said that the agreement required the beginning of escrow by July 31. The seller granted an extension after the playhouse came up only $15,000 short on June 1.