CHAPEL HILL, N.C. — The curtain could soon fall on the historic Varsity Theater on Franklin Street.

  • The owners have told town leaders they could soon put the landmark up for sale
  • Town leaders want to form a task force to see if it's possible to turn the theater into a performing arts center
  • The town council will vote on forming the task force Wednesday night

The owners have told town leaders they could soon put the landmark up for sale. Town leaders now want to form a task force to see if it's possible to buy and turn the theater into a performing arts center.

“Where we could have performances of music perhaps dance, theater. A community meeting place,” said Councilman Michael Parker.

The cinema has struggled over the years. In 2014, the owners launched a fundraiser to get digital equipment or risk closing the place.

“We want to understand why has it struggled to make sure that if we do something when we take it over, it doesn't struggle,” said Parker.

The town council will vote on forming the task force Wednesday night. If approved, members would have until May to present a final report to the council.