The Art Theatre of Long Beach was sold to V Squared, a Long Beach consortium of two husband and wife teams, Mark and Helen Vidor and Jan and Sybil van Dijs, who have a track record of renovating historic Long Beach buildings.
V Squared purchased and renovated the Ebell Theater on Third and Cerritos downtown, which was converted into 11 lofts and the Ebell Club and the Washington Uniform Building at Coronado and Anaheim Avenue, which was remodeled into professional office space.

"The Art Theatre is a great historical building. We're very passionate about the architecture and (are) going to maintain the Art Deco character," says developer Jan van Dijs.
The Art Theatre is the last remaining single-screen movie theater in Long Beach, and one of only a handful in Los Angeles County.
When it opened in 1924, the 636-seat theatre showed silent films and contained an orchestra pit and a pipe organ.

Ten years later, following the 1933 earthquake, the theater was remodeled in the Art Deco style, but some of the style which was replaced during 1940s remodeling. V Squared's renovation plans will restore the facade to its 1930s glamour, replace the 1948 marquee with a 1934 Art Deco replica, reconstruct the stage and frame the screen with curtains and proscenium arch. The group also will update the facility with larger bathrooms, a refurbished lobby and snack bar and digital sound, as well as replacing all the seats.
The work fits the restoration model of what's old is new again - the building is not only being preserved but also maintains its original function. "It fits the theme of preservation in Long Beach, which is long overdue," says consultant John Thomas, vice president of the Art Deco Society of Los Angeles and president elect of Long Beach Heritage. "This is a great model for future projects."
V Squared also will convert two unused storefronts that flank the theater, one into a wine tasting room and the other into a Portfolio Annex.

Fourth Street merchants are excited about these improvements, as well as the near future openings of a Mexican restaurant and a Vietnamese noodle shop across from the Art Theatre. They see the changes as a catalyst for new growth on the area known as "Retro Row." "It's great for us," says Kerstin Kansteiner, Portfolio Coffeehouse owner and president of the Fourth Street Business Improvement District. "With the Art Theatre revitalization and the opening of two restaurants on Fourth Street, we hope to see more foot traffic and a new clientele in the area."