news-record.com

CHAPEL HILL (MCT) — Franklin Street's landmark Varsity Theatre will reopen next month under new ownership after extensive renovations to the lobby and concessions area and the addition of a children's party room.

Chapel Hill resident Susan Shareshian and her husband, Paul, finalized the deal last week and have begun work to restore the theater.

''The Varsity still has a fantastic reputation, but we want to bring it back to the romantic era and make it more of a destination," Susan Shareshian said.

The couple, who have lived in the area for four years, plan to charge $3 for movies. They want to show mainstream flicks alongside classics. They're planning to partner with area restaurants for special date-night deals, too.

''We want to provide an economic evening out and still make it intimate," said Shareshian, who works at Cisco.

The 80-year-old theater closed in June after ticket sales plummeted. Bruce Stone, the former owner, declined to comment on the reopening. Shareshian said she thinks showing commercial movies will increase traffic.

In addition to regular movie showings, the theater will be available for rental for children's parties, private screenings, lectures and corporate functions.

''We want to make sure students have a space, but we want to make sure families, seniors, married couples all feel comfortable," Shareshian said.