The Strand Theatre, which ACT purchased for $4 million and subjected to a $32.5 million restoration effort, is slated to open in January 2015.
“It wasn’t Twitter that revitalized Market Street,” Lee insisted, holding court at Strand Theatre’s ribbon-cutting ceremony last week. “It was the arts organizations. We talk a lot about technology in the city, but technology cannot live without the arts.”
And yet, there’s often a serial, repetitive nature to how San Francisco’s various “theater district” campaigns have played out. The great romance of San Francisco is to create a city where art, music, theater, and technology all flourish together, but so far, that vision hasn’t quite borne out in reality. From a city booster’s perspective, that might not matter; the tech sector will generate enough money to bankroll an arts district, even if the two worlds never intersect. Rising land values may cause small businesses and nonprofits to get displaced in the meantime, but that’s just the cost of gentrification.
read more: sfweekly, 09.10.13.
related: The Bacon-Wrapped Economy: Tech has brought very young, very rich people to the Bay Area like never before. And the changes to our cultural and economic landscape aren’t necessarily for the better.
tl;dr of ebx article: the new, young rich (tech) has different preferences of what they spend their money on (ex. bottle service at clubs, bike-to-work pants), vs. the old rich (going out to see plays, symphony orchestras..), and the effects of this on the economy and development.