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Theatre company seeks to buy its building

February 28, 2019

BENNINGTON, Vt. (AP) — A nearly 50-year-old theatre company in Vermont is planning to buy its own building as part of a redevelopment project in downtown Bennington.

The Bennington Banner reports the Oldcastle Theatre Company has negotiated a purchase-sale agreement for the building with the Bennington Redevelopment Group, which is spearheading the Putnam Block redevelopment project.

Oldcastle producing artistic director Eric Peterson says the purchase is on track for a spring closing.

He says the sale is awaiting the redevelopment group to close on financing $27.6 million for the first phase of the project.

Oldcastle has leased its current building since 2011. The company has invested about $800,000 in the building, including adding a 128-seat theater.

The company dates back to the early 1970s, when Pearson and four other actors formed a troupe.

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Information from: Bennington Banner, http://www.benningtonbanner.com