Getahn Ward

gward@tennessean.com

Three years ago, the former Roxy Theater was deemed one of Nashville's most endangered historic properties.

The acquisition expands the investment group's holdings within the McFerrin Park/Cleveland Park area.

Members own the Ray of Hope Church property and former Jack Ward & Sons Plumbing Co. building.

A local investment group has paid $1.3 million for the vacant former Roxy Theater in East Nashville, which three years ago was deemed one of Nashville's most endangered historic properties.

The group's leader Elliott Kyle said a combination of live entertainment and/or restaurant is the most likely use for the building at 827 Meridian St. in the McFerrin Park community.

"We're preservationists at heart and we're looking forward to restoring the Roxy to its former glory as an anchor of this iconic Nashville neighborhood," he said.

The acquisition expands the investment group's holdings within the McFerrin Park/Cleveland Park area.

Over the summer, members acquired the 3.07-acre Ray of Hope Church property, including the historic McGavock House at 908 Meridian St. Previously, group members also bought the former Jack Ward & Sons Plumbing Co. building at 809 Meridian St.

"We anticipate that area becoming a very lively and engaging commercial corridor and we hope to have announcements over the next few months after we identify and come to terms with potential tenants," Kyle said.

827 Meridian Partners LLC, the Kyle-led buying entity, bought the properties at 827 and 831 Meridian Street from Robert Solomon. The purchase included just over half an acre on which the 1930-built, 9,352-square-foot former historic theater sits at the northeast corner of Meridian and Wilburn streets plus 0.23 acres on vacant commercial land at 831 Meridian St.

Robbie Jones is a board member of Historic Nashville Inc., which included the Roxy Theater on its 2013 Nashville Nine list of the city's most endangered historic places.

"As one of the only remaining historic movie theater buildings in Nashville, Historic Nashville is very excited about plans to preserve it," Jones said. "The Roxy is a beloved neighborhood landmark in East Nashville and definitely one of the historic places that makes our city unique."

Reach Getahn Ward at 615-726-5968 and on Twitter @getahn.