Cranston's historic Park Theatre has a new lease on life. Here's what is coming next.

CRANSTON – The historic Park Theatre has a new lease on life.

The venue closed its doors after running into financial difficulties last fall, but is now being managed and operated by Spectacle Live, the company announced this week.

Based in Lexington, Massachusetts, Spectacle Live also produces events at Newport's Jane Pickens Theater and a number of other venues in Massachusetts and New Hampshire. It bills itself as "the largest independent concert promoting and venue management company in New England."

Theater faced uncertain future

The Providence Journal reported in September that the Park Theater was $34,135 behind on its taxes and sewer fees, and the City of Cranston was considering purchasing it to use as a community center.

That idea drew backlash from Democrats, who categorized it as a "bailout" for politically connected insiders. One of the theater's two owners, Ed Brady, is a former city councilman who stepped down when he and his business partner purchased the property for $3 million in 2021.

The theater was subsequently listed for sale at an undisclosed price, and it appears it hasn't hosted any events since mid-October. A mortgagee's sale was scheduled for March, the Cranston Herald reported, but that public auction was cancelled.

What's happening now

In a statement, Spectacle Live founder and president Pete Lally thanked Brady and co-owner Jeff Quinlan for "working with us to craft an agreement that will allow the Park Theatre to thrive for many years to come."

Spectacle Live will begin managing the venue immediately, "with plans to ramp up its offerings of concerts, theatre, comedy and events in the coming months," the announcement said.

Brady said the announcement "marks a significant step towards revitalizing the cultural and performing arts landscape in Cranston."

Spectacle Live "is committed to transforming our community theater into a cultural haven for artists and audiences alike, and it will continue the revitalization of the surrounding Rolfe Square area," he said in a statement.

This article originally appeared on The Providence Journal: New operators of Cranston's Park Theater will ramp up concerts, events