Published Jul 31, 2018The #SaveTheRio campaign has finally reached its goal thanks to a grant from the city of Vancouver.
While attending the "Deadpool Double Bill" at the Rio Theatre last month, Mayor Gregor Robertson pledged to "help fill the gap." The city has now made that happen by approving a $375,000 grant.
"Vancouver is home to a thriving arts and culture scene, and the Rio Theatre is an important cultural venue for showcasing local artists and events," Robertson said in a newly released statement. "It's inspiring to see so much community support come forward to raise money to save the Rio. I'm thrilled that Council approved a $375,000 grant to help save The Rio and keep the doors of this cultural landmark open for future generations to enjoy."
The Vancouver Art House Society has also applied for a federal grant, which if approved, would match the amount from the city.
The current owners of the Rio have also been granted another extension to allow adequate time for the current operators to complete the purchase.
In the meantime, the #SaveTheRio campaign will continue to fundraise, in the hopes of lowering monthly mortgage payments and securing a long-term future for the community arts hub.
Finally, the Rio has extended the deadline to recruit additional investors. The original FrontFundr campaign ends today, but a new page has been set up to allow for future investors to own a piece of the Vancouver landmark.