The Rio Theatre/Facebook

Deadline to save Vancouver’s Rio Theatre extended to April 16

Group granted more time to raise the funds, complete all the paper work needed to buy Rio theatre

The operators of one of Vancouver’s last independent movie theatres say they have received an extension from their landlord to save the Rio Theatre.

A message posted on the theatre’s Facebook page early Tuesday says the new deadline to raise $3 million to get approved for a mortgage has been pushed to April 16.

A 30-hour fundraising campaign which ended at midnight raised more than $383,000 toward a $1 million goal, with the remaining $2 million expected to come from private investors.

The operators say zoning changes have attracted developers who want to tear down The Rio for a new project.

Corinne Lea and her business partner announced in early February that their offer to building had been accepted. They declined to say how much they had bid but said it was higher than the $4 million the building was assessed at.

The 80-year-old Rio is beloved for running independent films and also hosting burlesque, comedy, improv and variety shows.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

PHOTOS: Christy Fraser Memorial underway in Langley

Over 700 athletes from across the province are attending

Stealth finish winless at Langley Events Centre

Vancouver pro lacrosse team finishes with 0-9 home record

VIDEO: After the trees fell, Hunter Park reopens in Langley City

The rebuilding of the park “has turned disaster into triumph,” mayor says

VIDEO: Two Langley City councillors to run for mayor

Val van den Broek and Paul Albrecht confirm their candidacies

VIDEO: Rollover crash in Langley’s Walnut Grove neighbourhood

No serious injuries reported in Friday night crash

VIDEO: Largest LEGO exhibition in British Columbia held at River Rock Casino

Hundreds of builders come from around the world to display their LEGO creations

Downtown roads closed for Vancouver Sun Run

Thousands of runners participate in the annual event

Child’s body found in river downstream from where boy went missing during flood

Three-year-old Kaden Young was swept out of his mother’s arms in February

B.C. VIEWS: Eliminating efficiency for farm workers

Don’t worry, NDP says, the B.C. economy’s booming

Hockey for Humboldt charity game Friday

Event in Maple Ridge will benefit bus tragedy victims

Austin Powers ‘Mini-Me’, Verne Troyer, dies at 49

Facebook page confirmed his death Saturday afternoon

Alberta man dead after snowmobile collision on B.C. mountain

The incident occurred on Boulder Mountain Friday morning

B.C. parents grieving teen’s overdose death say it started with opioid prescription

Elliot Eurchuk, 16, died at his Oak Bay home Friday, after taking street drugs

Most Read