Admiral Twin Taking Last Breath?

[Conan71]

Someone emailed me yesterday telling me the cinema at RWC had closed.  Can anyone verify or dispute?

[BKDotCom]

Someone emailed me yesterday telling me the cinema at RWC had closed.  Can anyone verify or dispute?

I highly doubt it... but you can call them yourself.
http://www.selectcinemas.com/contactus.htm

Also foreclosed on:  The midcontinent tower...
http://www.tulsaworld.com/business/article.aspx?subjectid=32&articleid=20100529_32_E1_Traffi370046

The last thing the bank wants to do is to kick out the tenants and fold ship

[ZYX]

I heard that all businesses would remain open.

[Conan71]

I highly doubt it... but you can call them yourself.
http://www.selectcinemas.com/contactus.htm

Also foreclosed on:  The midcontinent tower...
http://www.tulsaworld.com/business/article.aspx?subjectid=32&articleid=20100529_32_E1_Traffi370046

The last thing the bank wants to do is to kick out the tenants and fold ship

Of course the "someone" was AOX/FOTD so take it for what it's worth.

[Conan71]

I highly doubt it... but you can call them yourself.
http://www.selectcinemas.com/contactus.htm

Also foreclosed on:  The midcontinent tower...
http://www.tulsaworld.com/business/article.aspx?subjectid=32&articleid=20100529_32_E1_Traffi370046

The last thing the bank wants to do is to kick out the tenants and fold ship

That's got to be one of the most jacked-up foreclosure actions in American History.  16 years after it being filed and it's still not gone on the block yet?

Good luck recovering that $400+mm in bond interest

[BKDotCom]

That's got to be one of the most jacked-up foreclosure actions in American History.  16 years after it being filed and it's still not gone on the block yet?

Good luck recovering that $400+mm in bond interest

The point being, it's business as usual at these places...  Reading the Tulsa World or KOTV comments and people think the shopping center is going to be having an-everything-must-go fixture sale....  someone had their eyes on the Los Cabos bar-stools...

[Conan71]

The point being, it's business as usual at these places...  Reading the Tulsa World or KOTV comments and people think the shopping center is going to be having an-everything-must-go fixture sale....  someone had their eyes on the Los Cabos bar-stools...

Yes, the intelligence level is lacking on the comments sections.  I'm surprised your eyes aren't bleeding from reading on below the story. 

[Townsend]

Yes, the intelligence level is lacking on the comments sections.  I'm surprised your eyes aren't bleeding from reading on below the story. 

Oklahoma's voting pool.

[custosnox]

Oklahoma's voting pool.

Explains a lot, doesn't it?

[ZYX]

Explains a lot, doesn't it?

+1

[nathanm]

That's got to be one of the most jacked-up foreclosure actions in American History.  16 years after it being filed and it's still not gone on the block yet?

I thought I had read in the last year or two that they were actually thinking about doing the auction sometime.

[Gonesouth1234]

http://www.ktul.com/Global/story.asp?S=14176566

Good news?

[Dana431]

Admiral Twin Drive-In to reopen, owner says

http://www.tulsaworld.com/news/article.aspx?subjectid=478&articleid=20110303_478_0_TeAmrl582025


By MICHAEL SMITH World Scene Writer
Published: 3/3/2011  9:27 AM
Last Modified: 3/3/2011  9:42 AM

Continuing Coverage: Read more about the Admiral Twin, watch videos and more.
The Admiral Twin Drive-in, a Tulsa landmark that saw its giant, all-wood screen burn to the ground six months ago, is expected to reopen this summer, one of the owners said Thursday.


Donations of more than $30,000 poured into a "Save the Admiral Twin" fund after the September blaze that razed the nine-story screen. Co-owner Blake Smith said those donations will go toward rebuilding, in addition to his own additional funding.

"I believe we have a commitment on a (Small Business Administration) loan, and refinancing of my original mortgage, but I haven't got it signed just yet," Smith said, "but I think I can say that we're right to the point of rebuilding."

The new structure would be eight stories and made out of steel, as opposed to the nine-story wood structure built in 1951. There will again be twin screens for viewing, Smith said.

"The plan is to begin rebuilding this spring, and we'd love to reopen by July 4," Smith said, estimating that once construction on the tower begins it should be completed in 60 to 90 days.

The cost of rebuilding is about $300,000 for the screen and some new amenities at the drive-in, Smith said.

By MICHAEL SMITH World Scene Writer

Read more from this Tulsa World article at http://www.tulsaworld.com/news/article.aspx?subjectid=478&articleid=20110303_478_0_TeAmrl582025

[jne]

Definitely encouraging, but I'll believe it when I see it.  
I still think Tulsa Parks should buy the drive in and turn it into a city park.  If the financing could be worked out to rebuild, it seems it would at least pay for itself over time and be self-sustaining.  Some updating and a playground structure would go a long way.  My sincere hope is that it is saved, but there were a lot of things that could have been done before all this at minimal cost.  I'm still not convinced that the prize money for rehab ($30,000 was it) was spent anywhere on the site.  Maybe there are high priced projector maintenance issues or some things that wouldn't be apparent to a patron, but I've never heard the owner make a clear case for where the money went.  He nearly Robby Bell'd that place into the ground before all of this.  Also, while I do my best not to pass judgement from the little I know, I'm not convinced he didn't torch the thing.

[heironymouspasparagus]

I think he would be crazy to torch it himself.  Not an insurance event.  He had a nice little cash cow there that has done well for years and could have continued without the fire.

Projectors should have survived the fire ok.  They were quite a ways off.  (The money is in his pocket!)

I bet rebuilding will be a whole lot more than 30k.  I haven't done any construction in decades, but I think that would be kind of pricey.  Could the level of business support that investment.  Might be kind of dicey.  Probably not.

One in Texas cost $250,000 in 1956.  I'm thinking today might be a little more.

http://www.crossroadsdrivein.com/