The company now has a $4 million mortgage and $22,000 monthly payments, according to the paper, which cites the purchase price as $10.4 million. The remaining $6.4 million came from the Redevelopment Agency of the City of San Diego, developer Bud Fischer and other donors.
The Tribune points out that Lyric Opera San Diego — not to be confused with its larger neighbor, San Diego Opera, which performs at the San Diego Civic Theatre — is now a rare breed: one of only 13 among the country's approximately 125 professional opera companies that own their own venues. Marc Scorca, president and chief executive officer of Opera America, told the paper, "Even among the largest opera institutions, owning a facility is rare."
When Lyric doesn't need the 718-seat theater, it will rent the venue out to organizations including dance companies, jazz groups and educational organizations, which will help cover mortage payments.