ɪn sɛptˈɛmbɚ tˈuː θˈaʊzənd fˈoːɹ, bˈɛɹ ænd skˈuːnoʊvɚ sˈoʊld ðə θˈiəɾɚ tə ðə sˈɪɾi ʌv tˈʌksən, æz pˈɑːɹt ʌv ɹˈiːoʊ nˈuːvoʊ, ɐ dˈaʊntaʊn ɹᵻvˌaɪɾəlᵻzˈeɪʃən pɹˈɑːdʒɛkt.
In September 2004, Bear and Schoonover sold the theatre to the City of Tucson, as part of Rio Nuevo, a downtown revitalization project.