Developers eye Waco Hippodrome

WACO – Private developers are looking to buy and expand the Waco Hippodrome Theater, reinventing the landmark at 724 Austin Ave. for daily business.

The developers have proposed to spend $2.1 million renovating the 99-year-old structure that once was Waco’s leading movie palace. They would build a three-story annex that would house a full kitchen, restaurant and outdoor event area.

The second-floor balcony would be converted into table seating. The annex would also offer a second lounge area. New restrooms, an elevator and a full commercial kitchen would be housed in the annex.

The developers have the building under contract with Waco Performing Arts Co., the nonprofit group that operated it as a theater venue from the 1980s until its closure for financial reasons in 2010.

The City of Waco staff is recommending $315,990 in TIF funding, or 15 percent of the project’s cost.

Work on the renovations could begin as early as January, with a possible opening late next year.