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Two years after Scene One Entertainment announced that it reached an agreement to lease\u00a0– and more importantly, reopen\u00a0– Albany’s then-shuttered Spectrum 8 Theatres, it’s now official: the local cinema\u00a0landmark has a bona fide new owner.<\/p>\n
Scene One confirmed it completed the purchase of the Spectrum 8 on Monday, making it possible to finally begin the long-awaited renovations the cinema company promised back when it took over the theater’s lease. Scene One had operated the Spectrum 8<\/a> under a lease-to-purchase agreement since the previous operator, Landmark Theatres, opted not to renew its lease in early 2024. After a brief closure, the theater was reopened in April 2024 after Scene One took over the lease on the property<\/a>, which was owned by Spectrum Associates LLC.<\/p>\n Among the potential upgrades discussed by Scene One and its owner and CEO, Joe Masher, are enhancements to the parking lot, theater seating and restoration of some of the\u00a0original\u00a0design elements around the theater’s lobby and other interior areas.<\/p>\n “Two years ago, when I announced I was reopening the Spectrum, the ultimate goal was to bring this theater fully under our ownership and today, I could not be more excited to say that this dream has come true,” said Masher in a statement accompanying the announcement posted to the theater’s Facebook page.<\/a> “The Spectrum is our crown jewel. It is the theater I grew up going to, seeing films that truly captivated every corner of the imagination. In the past two years, we have brought that magic back to the Spectrum and we have so much more planned to come.”<\/p>\n Various improvement projects are expected to begin in the coming months, with more planned over the next few years. Scene One intends to pursue historic property grants from state and federal agencies to assist with the theater’s renovation.<\/p>\n