Bryn Mawr Theater Redevelopment Bryn Mawr, PA

The historic 1926 Bryn Mawr Theater on the main street of a “rail suburb” of Philadelphia was deteriorating and threatened with conversion to a gym. The downtown itself was less and less active. Juliet Goodfriend, a prominent local businesswoman, saw the possibilities, and decided to redevelop the theater as an “art-house” and active neighborhood center. She needed technical development expertise for this complex project, so Goodfriend turned to AthenianRazak to achieve her vision. We helped guide the process through many stages: assisting in negotiating a purchase agreement, structuring a phased redevelopment plan, hiring design professionals, structuring the financial plan, and obtaining beneficial financing.

Phase 1 of the redevelopment was completed on time and on budget and the theater’s first year NOI was 22% ahead of projections. AthenianRazak went on to work on Phases 2 through 4, finishing public interior areas and opening the historic skylight, mostly while the theater was in operation. The theater is popular day and night and it has successfully added liveliness to its town. AthenianRazak is currently managing the fifth and final phase of the project which includes further redevelopment and the addition of two new theaters.