John Longacre, the developer behind the ReNewbold development at 16th and Mifflin, has bought a former theater on Snyder Avenue, promising it will “lead a charge for revitalization”near 17th Street.

Longacre says his LPMG company is still conceptualizing plans for the development planned for 1721-31 Snyder Ave., which he estimated to be about 12,000 to 15,000 square feet.

Longacre opened South Philly Tap Room 11 years ago partially to lure potential new residents who might be interested in his developments in the area. He also owns American Sardine Bar and the Brew portion of the Brew/Ultimo shop at 15th and Mifflin.

“I’ve been sitting on the property for a little bit because I don’t want to rush in,” said Longacre, who closed on it in July. “I want it to be something that is a game-changer. It takes time to do it right.”

The building was most recently a theater called Venice Plaza, which was known for hosting the play “Tony and Tina’s Wedding” for years until the early 2000s. Longacre wouldn’t specify what he’s thinking of doing with the building, but he insisted he would reuse it to do something “very significant.”

“We fought to get it,” said Longacre, who also owns American Sardine Bar. “It could have just been turned into 15 houses.”

“It’s absolutely going to change that corridor forever.”

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