Paramount CEO outlines $66 million 'ShineOn' renovation, seeks bond support

Jim Ritz, chief executive of the Austin Theatre Alliance and CEO of the Paramount, told the Austin Tourism Commission on March 11 that the Alliance's ShineOn capital campaign will fund an extensive renovation of the downtown Paramount and the adjacent State Theater.

Ritz said the total construction cost is about $66,000,000, with Paramount restoration estimated at roughly $31–33 million and a campaign goal that includes a $10,000,000 endowment. “We’ve raised … $28,000,000,” Ritz said, adding the Alliance’s goal is $34,000,000 and that the group hopes a November bond could provide $25,000,000 in support.

The plan, Ritz said, will not change the theater’s registered-historic structure but will focus on patron comfort and technical capabilities: replacement of all 1,273 seats; new HVAC to protect decorative finishes; updated lighting and sound systems; and full decorative restoration. He also described a new public lounge—JP’s Peace, Love, and Happiness Lounge—made possible by a $7,250,000 gift from John Paul and Eloise DeJoria.

Ritz placed the project in economic context, saying the Alliance managed about 570 events in the past year, welcomed more than 300,000 visitors and generated an estimated $22 million to $25 million in direct downtown economic impact. He highlighted education outreach—16,000–20,000 students brought to the theaters annually, about 85% from Title I schools—and argued the renovations will preserve a cultural asset that supports tourism, hospitality employment and downtown activity.

Construction sequencing is designed so both theaters are never closed simultaneously: Ritz said Paramount work will begin in mid-June with JE Dunn as contractor and last about nine months; State Theater work will begin about 100 days after Paramount construction begins, with an anticipated multi‑year completion window toward 2028.

Commissioners asked how the theaters will manage audience experience and programming during and after construction. On phone and recording policies—raised by Commissioner Chappell—Ritz said artists generally do not want flash photography or recording and described on-site practices (signage, peer pressure) to discourage disruptions. Commissioners also pressed about heritage grants and local residency plans; Ritz and Micah Jordan, the Alliance’s chief development officer, described past heritage-grant awards for exterior-wall and balconette restoration and said the Alliance is working to offer residency opportunities to local companies such as Ballet Afrique.

The presentation closed with an audience video and applause. The commission did not take a vote on funding; Ritz invited commissioners to support the campaign and asked the commission to consider advocating for the bond support he noted for November.

Ritz and the Alliance provided contact and donation information to commissioners and offered to share a campaign deck and digital case study with the commission following the meeting.

The commission moved on to its next agenda item after the presentation; the Alliance left the meeting without a formal request for a commission vote.