Vancouver’s Rio Theatre reduces crowdfunding goal to $1M after strong investor response

The Rio Theatre in East Vancouver.
The Rio Theatre in East Vancouver. Global News

Vancouver’s Rio Theatre got a celebrity shout-out and donation from Ryan Reynolds Sunday night, as the eclectic theatre tries to drum up $3-million to be saved from potential development.

Initially, the crowdfunding campaign was asking $1.5-million from the public, and another $1.5-million from private investors.

Now, that public funding goal is down to $1-million, with just three weeks to go.

READ MORE: Ryan Reynolds tweets his support for Vancouver’s ‘legendary’ Rio Theatre

Owner Corinne Lea says the timing between that goal being lowered and Reynolds’ tweet is a coincidence.

LISTEN: Owner Corinne Lea talks #SaveTheRio on The Shift with Drex

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“We decided to lower it because we’ve had some really good response from investors,” she said.

But she says Reynolds spreading the message is definitely a big help.

READ MORE: East Vancouver’s Rio Theatre lives to screen another film, as offer to buy building accepted

“It was pretty great to see that he had put some money on the line, and just spreading the word — it’s fantastic.”

The Rio has also found itself a new partnership with the Hollywood Arts Foundation.

“By joining forces with them, we are now able to give tax receipts to people who want to give larger donations,” she said.

Director Kevin Smith is also donating two live shows at the end of the month to help raise money, despite his recent heart attack.