Paramount Theatre Closure was Expected by Landmark Cinemas

A redevelopment clause in the lease agreement is the reason behind the Paramount Theatre closing in downtown Kelowna.

Bill Walker, chief operating officer for Landmark Cinemas in Canada, said that he knew this day would come eventually.

“We were a tenant there and we had a long term relationship with our landlords that was very positive, but they had a redevelopment clause, where if they decided to redevelop the centre, our lease could be terminated in 90 days.”

The cinema was given notice on Monday, but Walker explained that they do not know the date of the last movie, or when the movie theatre will be closed for good.

“We’re still trying to review what our commitments are and when the most appropriate time to close will be. I can tell you that people will have some notice, it will not happen in a week or two. It will be a month or so at least, before we’re in the position of closing.”

The Paramount Theatre is located on Bernard Avenue, and has been a staple landmark in Kelowna for years.

Terry Barton, manager of urban planning with the City of Kelowna said they plan on working with the new tenants to keep some of the landmarks the way they are.

“It’s certainly a prominent landmark within in our downtown. A lot of people share a lot of memories regarding that spot. The City will try its best when the applicant does come forward to try and save some of those character defining elements.”

Walker said even though it’s a loved landmark, business wasn’t great.

“Generally speaking the downtown theatre has become challenged, whether there’s limited parking, accessibility isn’t great, it’s just a different era. For sure in the summer we had some good days, on a rainy day in the summer we could be quite busy. On a sunny day in the summer, not so much.”

Around eight or nine people will be affected by the closure. Walker said Landmark Cinemas is trying to transfer staff to the other cinema locations in the city.

The public will be informed of the closing date, and Walker hopes to make the last show an experience for residents to celebrate the end of an era.

The City of Kelowna believes that the theatre will be redeveloped into a commercial restaurant.