The owner of 49-55 Davis Square in Somerville and 202-218 Massachusetts Avenue in Arlington has put the properties on the market, with an asking price of $12 million each. The buildings house the Somerville Theatre and Capital Theater, respectively, raising questions as to whether the vibrant local independent theater scene could be affected.
The buildings are owned by the Fraiman family’s Chatham Light Realty trust. Melvin Fraiman purchased the Hobbs Building, home to the Somerville Theatre, back in 1984. The building is named for Joseph Hobbs, who built it and opened the theater, running it from 1914 to 1926. The Fraimans operated both theaters until last year when they transitioned ownership of those businesses to longtime manager Ian Judge and partner Ian Brownell, operating as CSB (Capitol Somerville Ballroom) Theaters.
The obvious concern is the preservation of the Somerville Theatre, a vital part of the independent film community in the Boston area. It hosts the bulk of the films Independent Film Festival Boston (IFFB) — the Hub’s largest and most renowned film festival.
In response to an email, Judge dismissed concerns, replying “We have multi-year leases at both theaters and will continue to do what we have been doing since last year – keeping these neighborhood theaters an important part of their respective communities.”
The real estate listing calls the theater “an irreplaceable presence” and extolls the value of the property as is, “a premier entertainment destination featuring a 900-seat theater, a 500-capacity live event venue and a long-term restaurant tenant [Mr. Crêpe].”
Still, it is a development environment shaped by a lack of affordable housing, and there is an ongoing discussion of a proposal to create a minimum 24-story multi-use building in Davis Square. But the Somerville Theatre may have historical landmark status or be precluded by city zoning. The listing agent and the City of Somerville did not respond immediately to questions.
It was just four years ago that the Fraimans renovated and restored the Crystal Ballroom, now a popular events hall and performance venue. The handover to CSB seemed to further cement the future longevity of the Somerville Theatre as a cultural center in Davis Square. Now there is a degree of uncertainty.
IFFB Executive Director Brian Tamm said upon learning of the sale, “I hope whoever steps in, keeps the commitment to film, community and culture.”
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