Days before having to close its doors, the Mayfair has a new 10-year lease on life thanks to a partnership between several local investors.
John Yemen, who vocally advocated keeping the 76-year-old cinema open since news of a planned shutdown on Nov. 30 hit headlines earlier this summer, signed a lease along with three other partners.
Mr. Yemen, an entrepreneur, will join Mayfair film conservationist Paul Gordon, as well as filmmakers Ian Driscoll and Lee Demarbre, in leasing from current Vancouver owner Stephen Ng.
Mr. Ng had previously said it wasn't worth it to upgrade the theatre due to the cost involved, even after city council designated the Mayfair as a heritage building in October.
The theatre will be closed for renovations in December, including upgrading the sound system to digital and replacing the seats. The expected reopening is Jan. 2, 2009.
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