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Curtain may close on historic theater

The owner of the Royalty Theatre has six months to stage a turnaround at the 500-seat venue in downtown Clearwater.

By AARON SHAROCKMAN
Published May 8, 2006

CLEARWATER - Another piece of the old downtown may be going away.

The former Capitol Theater at the west end of Cleveland Street is for sale, the owner of the 500-seat venue said last week. Socrates Charos, who bought the 85-year-old stage in 1999 that is now called the Royalty Theatre, said private investors in Miami and New York are calling loans due. And Charos, 58, cannot find another way to pay them back.

The Greek native, who has become a downtown fixture with his bushy white hair, unique accent and Christian principles, said he has six months to turn the fledging theater around or be forced to sell.

He hopes to sell the building to someone who will maintain the theater, which has become a devotion for the dance instructor.

But finding a theater operator to meet the steep asking price, $6.5-million, seems unlikely. Condo developers also may balk. The property is less than two-tenths of an acre, and for tax purposes has a $465,000 assessed value.

"It strikes me as an awfully ambitious asking price," said Ed Armstrong, a well-known Clearwater land use lawyer. "It's certainly on the aggressive end. Maybe as part of a lager site, you'd be more likely to get that price."

In reality, the theater's future is tenuous as best.

Charos sat in the blue seats and stared at his stage last week, as gospel music played over a pair of fans cooling the darkened hall. He had so many dreams for this place:

The international home of gospel music. The centerpiece of a performing arts school. The path to redemption, and Jesus.

Now, it's all out of his hands.

"I need help, I need help. I'll be honest with you, I cry out," Charos said. "I'm stuck. I need help.

"Downtown needs something," he said. "I need advice."

Dated photographs show the theater was built around 1921, with a tile roof, elaborate facade and cast-stone arches. When vaudeville declined, the then-Capitol became a movie house until the 1970s, when multiscreen cinemas were born. The theater then became a playhouse for a local troupe, before that group folded in 1997.

Charos bought the theater in 1999 for $250,000 and said then he would make more than $3-million in improvements.

With partners, he said last week his group has invested $3.8-million into the theater, attempting to restore the building to its original luster. While the exterior work remains to be done, the theater inside is surrounded in gold and plush velvet curtains. The stage has been rebuilt, the sound system has been remastered, and new video equipment has been added.

"He's just bent over backwards," said Mike Sanders, a local historian. "He, to me, envisions the spirit of what we're trying to achieve downtown. We're trying to bring back some sort of flavor make it a destination-oriented Main Street.

"It's a shame he has to sell," Sanders said.

If sold and redeveloped, the theater could be another major piece of the downtown's heritage to disappear. The historic Calvary Baptist Church was demolished in January to make way for condominiums. The former Clearwater Custom Floors building, next to the downtown post office, was also leveled late last year to be replaced by condos.

"It's terrible we're losing all vestiges of our history," Sanders said. "We don't have many left."

Charos said he will wait six months before considering selling to a condominium developer. He also said last week he will not sell his property to the Church of Scientology or its members.

"There needs to be a balance," he said of the choice. "This downtown is for everyone. It needs to be healthy."

A devout Greek Orthodox Christian, Charos says the Royalty Theatre has healing powers. In its later years, it has become as much a sanctuary as a theater. Visitors come often to only pray and Charos hands them a Book of Psalms and a "ticket to heaven."

If he is forced to sell, Charos says he wants to spend some of the profit on a angel statue to donate back to Clearwater.

He holds out hope, however, that his theater may stay afloat. He is willing to sell the naming rights to the theater, which he says also carries the names of a museum and opera house.

Charos also has asked friend and music promoter Pete Bennett for help. Bennett is working to provide one large act a month to try to start offsetting Charos' losses. First up, Pete Best, the original drummer of the Beatles, will perform May 19 and 20.

"This is an embassy of the kingdom of heaven we have here," Charos said. "We need some hope. This place can bring people together, and if it does, we will be blessed."

--Aaron Sharockman can be reached at 727 445-4160 or asharockman@sptimes.com

[Last modified May 8, 2006, 02:30:18]