Paramount Owners to Announce Renovation Plans
One of the countries most storied venues will soon re-open under its original name, The Paramount Theater. Recently known as The Hippodrome, the downtown Springfield facility has been closed for several months as owners sought solutions to the new state fire code.
Owners Michael J. Barrasso and Steven C. Stein will announce their plans for the future of the 80-year-old venue at a press conference Thursday, Aug. 20, at 11 a.m. The press conference will be held at The Paramount Theater, 1708 Main St. Springfield, Mass.
Barrasso and Stein closed on a loan last week that has enabled them to pay off all taxes, and update the sprinkler system to comply with new state fire code. They will further use some of the money for a buyout of other partners, leaving Stein and Barrasso as sole owners of the Paramount building and the adjacent 30,000 square-foot parking lot. The Paramount celebrates its 80th birthday on Sept. 29.
Soon thereafter, a Phase Two and Three part of the building upgrade will include the upper floors of the property, which runs from 1676 to 1708 Main St. Phase Two will see the completion of theater restoration, including upgrading the exterior facade, a new marquis, renovated restrooms, and an overall upgrade of the facility. Once Phase Two is done, the historic Paramount Theater will re-open for business.
The Paramount Theater opened in 1929 and has served as the stage for such entertainment luminaries as Frank Sinatra, Bob Dylan, Nat King Cole and The Velvet Underground.