The Princeton Garden Theatre is owned by Princeton University and is located in downtown Princeton, NJ. It first opened in 1920, and originally hosted the University’s Triangle Club. After operating for decades as a single-screen cinema, the facility was divided into a two-screen theater in 1981. It was operated by United Artists between 1988 and October 1992, when UA determined it was too small to operate profitably. Realizing the opportunity to provide an amenity both for its students and local residents, Princeton University purchased the Theatre in 1993 and brought in a new operator. Together the University and operator spent over $1.2 million on improvements between 1993 and 2001, replacing the seats with stadium seating, renovating bathrooms, repairing the roof and electrical systems, and replacing projection and sound equipment. After 2001, however, the condition of the facility began to deteriorate, and the University and operator had disagreements about the Theatre’s mission. As their agreement with the existing operator was nearly expired, the University wanted to explore the level of market interest in leasing and operating a small movie theatre, such as the Princeton Garden.
As such, Princeton engaged RESGroup to draft, issue, and market an RFP to find an operator to lease the building, invest in substantial improvements, and operate a theatre that would benefit both the University and the local community. Since the agreement with the existing operator was ending within a few months, we suggested forming a selection committee with members capable of making all decisions related to the selection and negotiation processes, to accelerate the decision making process and project timeline. RESGroup prepared an RFP describing this unique opportunity, marketed the project, and identified potential operators. We reviewed and analyzed the RFP responses, and assisted the University in selecting a short-list of companies to make presentations to the University selection committee.
Ultimately, Renew Inc. was selected and has been successfully operating the Garden Theatre as a non-profit, “golden-age” venue since 2014. Following the selection, the facility was closed for over a month to allow for major renovations, which included new carpet and paint, a new HVAC system, and improvements to the concession areas. The Theatre now specializes in showing first-run films of high artistic quality, and special programming that includes classic and foreign films, film maker appearances, lectures, kids matinees, and theatrically broadcast events from the National Theatre Company in London, as well as offering the venue to the University for their use. The Theatre currently has over 3,100 members, and has been well received by both the local residents and by students. It was selected by NJ.com as the 2017 Best Movie Theater In New Jersey.
