Paramount Theater in Springfield goes up for auction

The Massasoit House Paramount Theater in Springfield is up for auction and 22 News reporter Kiara Smith has everything you need to know about this building and what one city official has to say about it. Ciara, this historic landmark in Springfield went up for auction today. The Paramount Theater has been on Main Street in Springfield for nearly 200 years. It opened as a hotel in 1843 and in 1929 it was remodeled into a theater. According to the Springfield Preservation Trust, the owners had redeveloped the space into a nightclub called Hippodrome that was opened from 1999 to 2011. The owners had planned to redevelop the building but it has been empty ever since. Springfield Mayor Sarno says there are many factors and a lot of money that goes into redeveloping places like this. You're talking about in the 20s of 30s of millions of dollars to do that theater and then you have to think about the capacity of being able to make money with a theater. Mayor Sarno says he would like to see the theater be saved and be redone but he says someone with deep pockets and the love of the arts has to step forward. The theater is set to be sold today with an estimated price of nearly two million dollars. Sarno says he will be looking to see what the auction brings and go from there. Working for you, Kiara Smith, 22 News.