UPDATE
Huntridge lovers, wondering what's the latest with the Theatre? What did the crowdfunding money go to? And what about that million bucks from the City, is that still there?
Well, we all know nothing good comes easy, and if anything this project is confirmation of just how GREAT the Huntridge is! It's been quite a rollercoaster, but rest assured Huntridge Revival and a dedicated team of supporters are still working hard to put the puzzle pieces together and bring our beloved Huntridge back to life.
The good news is we've found a new investment group that's very capable, wants to move quickly, and has aligned interests in the historical significance and future use. We are working through the financials and due diligence with them and hope to have some good news soon!
The crowdfunding money raised was used for ongoing deposits on the property, legal work, administration costs, and for basic exterior improvements (paint and lighting) to help alleviate the blight. Thanks again to everyone who contributed, as this seed capital was the thing that made this project possible!
The $1 million grant from the City of Las Vegas via the Centennial Commission is still earmarked for the project. Special thanks to the efforts of Councilman Bob Coffin who has been spearheading it. Additional thanks are due to the rest of the City Council, and the Centennial Commission including Councilman Ricki Barlow, Historical Preservationist Bob Stodal, Mayor Carolyn Goodman, and the other members who have all been very supportive of the cause. We also want to thank the Huntridge Foundation for all of their ongoing efforts to document and preserve the historical significance of the Huntridge. This is truly a community-wide project and it takes the support of so many to keep it alive.
Stay tuned for more updates, and good news, coming soon!
-Huntridge Revival
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The Huntridge Theater may be the most beloved historic landmark in Las Vegas. But over the last decade, the community that loves it has watched it helplessly fall into a seeming final state of disrepair.
El Teatro Huntridge es el sitio histórico más querido de Las Vegas. Pero en la última década, la comunidad que lo aprecia lo ha visto caer en un total estado de abandono. Queremos traerlo a su gloria de nuevo y que se convierta una vez más en el sitio preferido en Las Vegas para las artes y programas comunitarios.
We want to end this madness, and bring The Huntridge back for the people that love it.
We plan to bring this Theatre back to all its glory and more, and make it once again Las Vegas' favorite venue for performing arts and community programming.
The downtown entrepreneurs who undertook to kick off this effort recognize that many attempts to do this have failed despite concerted efforts and massive, long-term community support, and this might be the last shot to save it (covenants on the property expire in 2017). But the tools for organizing community engagement and support have evolved so much, so quickly -- we can do this.
Even if we raise this campaign’s full amount and end up with $150,000 or more, that’s obviously not even close to enough to lovingly renovate, and reopen, or even buy the Huntridge.
But! It will prove that community support exists to justify much larger private investment in a project that is motivated more by passion than just profits.
It will give us a great shot at getting the $4M in the door to secure the property that the current owners are asking for before the end of the year. Once the Mizrachis no longer own it, the process of working with the community to renovate it together can begin, without particular time pressure.
Renovating the Huntridge could cost up to $10 million more (based on initial engineers' walkthrough of the guttend building), so if we can show interested investors how much the community still cares about the Huntridge by raising the first ~1% of the to cost from its fans, and in doing so pass smaller initial financial hurdles that are beyond our personal means, we are confident that this show of community support will preface a beautiful revival of the greatest music and arts venue Vegas has ever known.
Nostalgic Huntridge-lovers of all stripes, this is where you come in: Help us prove that community support is there, by funding the important pre-work of this iconic revival project!!!
Queremos acabar con esta locura y devolver el Huntridge a la gente que lo aprecia.
Los miembros de la Comunidad de Negocios del Centro de Las Vegas que están detrás de esta iniciativa, reconocen que muchos intentos para lograrlo han fracasado a pesar de esfuerzos conjuntos y un enorme apoyo de la comunidad, y esta es quizás la última oportunidad de salvarlo (el contrato de la propiedad se vence en el 2017). La capacidad para organizar el apoyo de la comunidad ha evolucionado rápidamente y sabemos que podemos lograrlo!
Si aumentamos el monto de la campaña a $150.000 o más, no es ni siquiera suficiente para comprar, renovar y abrir de nuevo el Huntridge.
Pero! Comprobará que el apoyo de la comunidad existe, y así justificar una gran inversión privada en este proyecto que está motivado más por pasión que por ganancias.
Comprar y renovar el Huntridge puede costar unos $15 millones de dólares, y si podemos demostrar a los inversionistas que están interesados, lo mucho que la comunidad quiere salvar al Huntridge al recolectar el 1% del dinero por los miembros de la comunidad, y de esta manera cubrir la inversión inicial que está por encima de lo que nosotros podemos cubrir.
Tenemos la plena confianza que esta muestra de apoyo de la comunidad será el comienzo de la bella recuperación del mejor escenario para la música y las artes que Vegas ha tenido hasta ahora.
Para todos los nostálgicos amantes del Huntridge esto es donde necesitamos de su ayuda:
Ayúdenos a comprobar que el apoyo de la comunidad existe, contribuyendo a la recuperación de este gran icono.
What do we need the money for?
We extended all our personal financial resources to come up with the first $60k for the non-refundable deposit and appraisals to make this process possible. The next chunk of deposit ($50k) is due immediately after this campaign ends, and we have an estimated $100k of required costs before we can start bringing in (already very interested) private investors for the project. These costs include remediation due diligence, environmental certifications, appraisals, legal work, renovation design work and marketing materials, etc, all by the end of the summer. These start-up costs would normally be much more for a project of this magnitude, but we expect that we'll be able to get it all done very efficiently thanks to many tentative offers we've received to volunteer professional services. Estimated costs are as follows:
$20k - Due Diligence / Feasibility Studies
$15k - Marketing / Web Development / Admin
$50k - Architectural / Design / Engineering
$15k - Inspections / Appraisals / admin
$50k - Second Deposit
$150k Total Start-up Capital Required
Para que necesitamos el dinero?
Nuestro grupo ha reunido todos nuestros recursos disponibles y contamos con los primeros $60.000 para el depósito y estudio de valorización no reembolsable para poder iniciar este proyecto.
Los próximos $50.000 deben pagarse inmediatamente al finalizar esta campaña, y hay costos estimados de $100.000 antes de poder presentar el proyecto a inversionistas privados que ya están muy interesados. Estos costos incluyen: certificados de ambiente, valorización, documentos legales, diseño del proyecto de renovación y materiales de mercadeo, todo esto debe hacerse al finalizar el verano.
Estos costos iniciales suelen ser mucho más altos para un proyecto de esta magnitud, pero esperamos hacerlo de la manera más eficiente gracias a las ofertas tentativas que hemos recibido de profesionales que donaran ciertos servicios.
Estos son los costos estimados:
$20.000 – Auditoría externa / Estudios de factibilidad
$15.000 – Mercadeo / Desarrollo página web / Administración
$50.000 – Arquitectura / Diseño / Ingeniería
$15.000 – Inspecciones / Valorización / Administración
$50.000 – Segundo depósito
$150.000 Total del capital Inicial requerido
Who are you?
This IndieGoGo campaign was initiated by The Huntridge Revival, LLC, which was founded by Downtown Las Vegas community members Joey Vanas, Michael Cornthwaite, and Rehan Choudhry, and adopted by members of #startupblock, a group of entrepreneurs and community organizers living near The Huntridge.
Quienes somos?
La campaña IndieGoGo fue iniciada por The Huntridge Revival, LLC, fundado por los miembros de Downtown Las Vegas Community, Joey Vanas, Michael Cornthwaite, y Rehan Choudhry y adoptados por los miembros de startupblock, un grupo de emprendedores de tecnología que viven cerca del Huntridge.
Are contributions tax-deductible?
No, Huntridge Revival is an LLC because this campaign is only a necessary first step towards raising up to $15MM in total investment and it needs to also attract private investors and be able to show returns. Because it is not a 501(c)3 not-for-profit organization contributions are not tax-deductible. To avoid ever rehashing its current fate if we do nothing, the Huntridge does need to sustain itself financially once reopened (while keeping ticket and food and beverage costs affordable).
More details about the campaign and the Huntridge can be found at Save.TheHuntridge.com!
Las donaciones son deducibles de los impuestos?
No, Huntridge Revival es una Sociedad de Responsabilidad Limitada ya que esta campaña es solo un primer paso necesario para alcanzar la meta de $15 millones en inversión total y atraer inversionistas privados y mostrar rendimiento de su inversión.
Debido a que no es una organización sin fines de lucro 501(c)3, las donaciones no son deducibles de los impuestos.
Para evitar que ocurra de nuevo su destino actual si no hacemos nada para rescatarlo, el Huntridge necesita mantenerse a si mismo financieramente una vez abierto para que los costos de boletos y comida y bebida sean razonables.
Para más detalles sobre la campañna y el Huntridge consulte la página web: Save.TheHuntridge.com
