The historic Fine Arts Theatre in downtown Denton square will change owners and get a renovation.

Axis Realty’s Brad Andrus and Alex Payne approached Talented Friends founder and Aviation Cinemas partner Jason Reimer about making the change to the theater early this year. Joining them is Animation Cinemas CEO Barak Epstein who manages operations of Texas Theatre in Dallas.

“The Fine Arts Theatre has been something we’ve wanted to be a part of for many years, even before I moved from Denton to Oak Cliff and became involved with the Texas Theatre,” said Jason Reimer, Aviation Cinemas, in a press release.

“I’m so thrilled that we’ll finally have a chance to give the community back a venue that’s been closed for so long.”

The entire venue will be restored along with some additions like a live sound and lighting system, digital cinema and 35mm and 70mm film projection. Reimer is taking aspects from Texas Theater and including them into the programming by having a live event space where they hope to have music and comedy shows. The team handling the renovation wants to preserve as much of the theater as they can to protect the Fine Arts with historic designation.

The Fine Arts Theatre was originally built in 1877 as the Graham Opera House. It was repurposed as a movie theater in 1935. The theater had its final screening in 1982 after a fire closed it down.