HOUSTON — It appears the iconic River Oaks Theatre is set to close after its parent company said the landlord did not respond to a proposal that would keep the venue open.
The theater’s lease was set to expire at the end of this month. Landmark Theatres, the venue’s parent company, said it presented a “fair and reasonable proposal” to landlord Weingarten Realty and asked for a response by close of business Friday. Landmark Theatres said the landlord has not responded.
“Landmark Theatres is disappointed to announce that there has been no response or acknowledgment of the revised proposal we submitted to Weingarten Realty this week,” the parents company said in a statement. “In good faith, we presented a fair and reasonable proposal and asked for a response by close of business today. Unfortunately, there has been no response or even acknowledgement of this proposal, leaving us no choice, but continue with our preparation to leave our beloved home of 30 years.”
Last month, Weingarten Realty said River Oaks Theatre hadn’t paid rent since March of 2020.
"Conversations have indicated that their business model doesn’t support paying more than a fraction of the previous rent going forward,” Weingarten said in a statement.
River Oaks Theatre has been designated a Houston landmark by the Museum District Alliance. The venue opened in 1939.
“However, under our preservation ordinance, landmarks can be demolished,” said David Bush with Preservation Houston.
KHOU 11 reached out to Weingarten Realty who said they have no comment at this time.