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Out with the porn, in with the condos.

One of the oldest theaters in Vancouver is likely being torn down to make way for a new condo project. The Venus theater on Main st. is the oldest theatre left in Chinatown. It was built in 1912 as The Imperial and originally showed live theatre shows . For the last 25 years it has been operating as a porn theater, but its about to make way for a new erection: a nine story condo tower is in the planning stages.

David Porte says his company looked at any heritage value the theatre had, but concluded it had been so badly renovated over the years it didn’t have much architectural merit left.

“We looked at it, investigated it inside and out,” he said. “Certainly inside it’s fairly grungy, and architecturally there’s nothing left inside. Whatever there may have been is long gone, and the exterior, the pink stucco, sort of speaks for itself.”

With the current flacid state of our market this could be just the thing to perk up some interest among young buyers eager to spread their wallets wide. Could this be just the tip of a much bigger market penetration leaving lenders and marketers turgid with profits?

I just hope the buyers don’t get f***ed.

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9 Responses to “Out with the porn, in with the condos.”

  1. 1
    ken Says:
    December 12th, 2006 at 10:56 am
    Wow, I feel sorry for the people that went through that building to do the inspection. I wonder if they were equipped with hazmat suits?

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  2. 2
    Anonymous Says:
    December 12th, 2006 at 12:13 pm
    I just hope the buyers don’t get f***ed.

    meh. I can live with it.

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  3. 3
    Anonymous Says:
    December 12th, 2006 at 12:20 pm
    western housing market vulnerable:

    http://tinyurl.com/yfeo6s

    Cameron Muir: can’t drop 40% like ‘82 because blah blah blah…different this time.

    Yah, it’s different because the coming recession will be worse, and all those rear-mirror projections will count for jack squat.

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  4. 4
    solipsist Says:
    December 12th, 2006 at 2:21 pm
    Top form Your Eminence!

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  5. 5
    digi Says:
    December 12th, 2006 at 11:25 pm
    I think Vancouver has enough condos. What about the porn theaters? We just may be running out of those

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  6. 6
    Anonymous Says:
    December 13th, 2006 at 12:50 pm
    I wonder if these will be rennie marketed? “Come get lucky at the Venus!” And you think other condo developements are sexy! Try our tight little boxes!

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  7. 7
    Anonymous Says:
    December 19th, 2006 at 12:16 am
    What the hell are they thinking? Cleaning up the city. Getting rid of a crime infested pervert heaven, and replacing it with an upscale place to live. The scum developer is probably going to make a profit too…

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  8. 8
    hartless Says:
    October 2nd, 2007 at 7:21 pm
    We have lost the last of the great sleaze centers of the city with the demolition of the famouse Venus Theatre. There was nothing so amazing as the historical Imperial being run for the past quarter century as a venue for the underground culture of the oldest form of entertainment. Run by the cousin of the Fox cinama’s proprieter, Dong has given the cultural gutter a welcome home. I am personally very upset to no longer see the verbose staircase, ornate turn of the century molded ceiling and flattering curtains draping the sides of the screen. Something wonderouse has been lost forever like the diing flicker of the reel expiring within one of the continents last projection rooms. Rest in Piece, We shall soon resurect you in a new form, Venus in my viens.

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  9. 9
    Dave2 Says:
    October 10th, 2007 at 9:06 pm
    The Sun ran an article on this Tuesday, apparently they found that the ceiling was intact once they took down a false ceiling, that the place was fairly intact.. oh well, at least the 1st Pantages may be restored up on Hastings… Too bad about the Venus though

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