Big news for Cleveland Playhouse, one of the nation's oldest "regionals." In 2011 they're moving out of their longtime building into an arts district downtown. But unlike other theatres' real estate "upgrades" this is a move that might actually save them money.
Play House managing director Kevin Moore...said the Play House can no longer afford high-quality productions while spending more than $1 million a year of its $6.5 million annual operating budget just to keep the doors of its huge but patched-together facility open.
"There is so much upside to this," said Michael Bloom, the Play House's artistic director. "It allows us to transfer a good portion of our large facility costs to the artistic product...."
Best of luck to them.