Vélez-Málaga Council has acquired the old Lope de Vega cinema-theatre in the historic centre of the town for an amount of €495,879.
The Council completed the acquisition on Monday and will allegedly pay for the building in three annual instalments, in 2013, 2014 and 2015.
According to the mayor, Francisco Delgado Bonilla, the acquisition of cinema, built in 1961, was one of the governments commitments and will provide great benefit for the residents of the town.
The Provincial Council has apparently allocated €1.2 million for the renovation of the building and the projected completion date is the end of 2014 or the first quarter of 2015.
The renovations to the former cinema include improved health and safety measures, improved accessibility, new electrics, renewed foundations, replacement of the ceiling and renovation of the backstage area. It will have a seating capacity of 1,200.
According to the mayor, the project will allow for the staging of events previously not possible due to lack of space.