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Theater Latté Da buys the Ritz Theater

Updated: September 7, 2016 - 10:44 am

The rising theater company will have offices and a stage in one place.

Theater Latté Da announced Wednesday it has purchased the Ritz Theater in Northeast Minneapolis.

The rising musical theater company hasn’t had a permanent home since it left the Loring Playhouse nearly a decade ago. Now in the 1920s-era theater the company will integrate its office, rehearsal and performance spaces.

Theater Latté Da acquired the 245-seat theater, which reopened in 2006 after a $2.2 million renovation, from the Ritz Theater Foundation. Terms of the sale were not disclosed.

Theater Latté Da has used the Ritz for several performances over the past year, including acclaimed productions of “Into the Woods” and “Sweeney Todd.” It moved its administrative offices to the building in 2014. One of the city’s fastest-growing theater companies, Theater Latté Da grew its budget from $1.2 million in 2014 to $1.8 million this year, according to a release.

Artistic Director Peter Rothstein said the area’s residents and businesses have welcomed them to the Sheridan neighborhood.

“With the Ritz Theater as our artistic home, we will continue to deepen our relationship with Northeast Minneapolis,” he said in a statement. “The Ritz Theater is a fantastic building in a dynamic neighborhood with a rich history of diverse ethnic identity and cultural exchange. Theater Latté Da is thrilled to be a part of its next chapter.”

Theater Latté Da will begin its 19th season at the theater at 345 13th Ave. NE this month with the musical “Ragtime” based on the novel of the same name.