Alameda Theatre's Rent Takes a Welcome Jump

Business is booming at the , it seems — enough so that this year's rent payment to the city, based in part on revenues, was more than double the expected amount.

Alameda Entertainment Associates (AEA), which operates the theater and cineplex, recently made a 2011 rent payment of $284,000. That's 250 percent of the $114,000 originally projected, according to a press release from the city manager's office.

"I am very excited that the Alameda community is so supportive of the theater," said Mayor Marie Gilmore. "This is a win/win project for all."

Jennifer Ott, deputy city manager and former manager for the theater project, added, "This is a great example of how a public/private partnership can realize positive fiscal benefits to the city and the surrounding Park Street business district."

The $37 million project included restoration of the historic Art Deco theater at 2317 Central Ave. and new construction of the Cineplex and the city-operated Civic Center Parking Structure on Oak Street.