One of the most historic buildings on Sullivan’s Island is getting a second act, instead of a curtain call.
The Fort Moultrie Post Theatre, which used to play films for soldiers in the 1930s, will be revived to become a 6,000-square-foot single-family residence with a private movie room.
Steve Guaglianone, owner of Charleston builder Novella Homes, is leading the charge after purchasing the property for $2 million in April.
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“We were looking at renovating the building originally for the previous owner, but he decided not to move forward with it,” said Guaglianone, who was too enamored with the project to give it up.
So he bought the property and now will follow through on the plans for himself.
He intends to build and find a buyer down the road.
The brick building at 1454 Middle St. has been vacant for 40 years after being converted into a warehouse in the 1970s and is in desperate need of reviving, Guaglianone said.
“No one would say the property looks great right now and you’re going to ruin it,” he said in consideration of those who at face value may criticize development of a historic building. “Anything we do is going to be an improvement.”
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Today, there's no electricity for the building, which is completely dark inside and overgrown outside. Paint is peeling, spiders have strung their webs from corner to corner and the auditorium has been gutted.
Small remnants remain intact, though, like the original double doors with port windows leading into the theater and an old ticket window with a $1 adult price and 50 cents for kids. Old-timey restroom signs and chandeliers hang from the ceiling.
Guaglianone plans to pay homage to the history, keeping some of those artifacts intact, including maintaining the brick façade and transforming the former screening room into a private theater.
“This is kind of a career project and it’s something we’ll take very seriously,” he said.
Guaglianone is going for an industrial-meets-coastal feel to mesh the large space with island living. He plans to add several new windows to brighten up to the blacked-out space.
Since the slab is compromised and the roof is "one storm away from blowing off," Guaglianone will demolish the flooring, pour new concrete and raise the structure as a drive-under house instead.
The home would have 20- to 25-foot ceilings, even with the raised level and a new roof. Once completed, it will be one of the biggest single-family homes on Sullivan's, one of South Carolina priciest ZIP codes.
At maximum, a new build can extend about 4,000 square feet, but the theater property was grandfathered in before zoning limits were put in place, Guaglianone said.
The renovation will cost several million dollars, with the windows alone upward of $1 million in work. Guaglianone estimates the project will take two years to complete.
“This project is so cool and really draws you in,” he said. “I was willing to take the risk on it.”
Big money
A Summerville apartment complex recently sold for a pretty penny.
NorthStar Real Estate Investments facilitated the sale of Bellary Flats, a 264-unit rental complex in Carnes Crossroads, for $58 million.
Columbia-based BF Summerville InvestCo LLC purchased the property at 11000 Eagle Hall Lane.