Up Markets is in talks with five potential operators to reopen the shuttered Royal Poinciana Playhouse, representative Alexandra Patterson told the Town Council on Tuesday.
Up Markets’ goal is to reopen the landmarked playhouse, which has been dark for 14 years, as a year-round “mixed use cultural arts center embracing a variety of cultural art programming and partnerships with local community organizations,” she said.
Since Patterson’s last update in July, talks with one prospect have progressed to the point where Up Markets is examining detailed plans and financial information, she reported.
Of the four other groups, two are “international organizations,” one is “a local organization with waterfront experience” and the other “has cultural art experience in the northeast and overseas,” she said.
One of the four has sent Up Markets, which controls the Royal Poinciana Plaza under a long-term lease, a proposal. All have signed non-disclosure agreements.
In July, Patterson told the council that Up Markets had signed a letter of intent with a restaurant operator to lease the former Celebrity Room restaurant, which is adjacent to the playhouse.
Up Markets is selecting an architect and interior designer for the restaurant, she said.