(NOT OPENING IN 2026: The Riverview Theater. Photo by Jim Morrison)
By Jim Morrison
The Riverview Theater was sold at a foreclosure auction Thursday back to the man who held onto it for decades, hoping a buyer would make it the theater jewel of the neighborhood.
Richard Levin bid $600,000 for the theater, surpassing other bidders by $100,000. He was protecting his investment. Levin sold the property to 3910 Granby Street Holdings for $847,500 in 2023, a company fronted by John Childers, the co-owner of the nearby MJ’s Tavern.
Levin plans to sell the property and hopes the theater remains. Over the years, he said, he had offers from developers who wanted to tear down the building that he refused. “I had somebody talking about doing retail in there, but leaving the marquee and everything, as it is,” he said. “I don’t want to tear that building down. Hopefully, there’s an angel out there somewhere.”
Levin, a developer who owns dozens of properties, held the note on the property and said he reluctantly foreclosed after Childers failed to complete renovations of the Granby Street theater, built in 1947, according to city records. The auction, which took place on the steps of the Norfolk Circuit Court building, lasted four minutes. There were two other bidders.
The man he thought was the angel restoring the property — Childers, who he repeatedly called “a nice guy” trying to help the community — failed to raise enough money for the job, estimated at more than $2 million.
“I’m sorry I couldn’t make it happen, and I would hope whoever takes it over next will complete it,” Childers said, adding that the contractor told him the project was 55 percent complete. “It makes the community a better place.”
“I ran out of funds, pretty simple,” he said.
It’s not clear how much the holding company paid on the loan, but the auctioneer noted there were two mechanic’s liens and at least $5,000 in back real estate taxes owed. There are two pending civil cases against 3910 Granby Street Holdings in Norfolk Circuit Court filed by Spacemakers Inc. and Mike & Mike Services Inc.
The city received a $700,000 Port Host Communities Revitalization Fund in 2024 to renovate the theater in partnership with 3910 Granby Street Holdings. Childers described it as a commercial improvement loan and said he didn’t know the status. The theater also received a city facade grant of up to $50,000 after the purchase. Childers said he received $15,000 from the city, matched by $15,000 he invested in the facade. Norfolk city officials did not immediately respond to questions about funding. The story will be updated if they do.
Childers explored purchasing and renovating the theater as far back as 2019. He had at least one false start. A crowdfunding campaign he founded never gained traction.
“I tried thousands of things, trust me,” he said. None yielded the money he needed.
Childers said an investor dropped out, leaving him about $1 million short of finishing the renovation. Levin added that Childers told him the investor was from Philadelphia and a failed business deal meant he was short of funds. The day before the auction, Childers said in a phone interview that he was hoping to bring in a new investor. “There was not enough time,” he said after the auction. “It couldn’t come through.
The theater has a rich history. When it opened with 700 seats, it featured air conditioning and a “cry room” where mothers with bawling children could watch a movie without disturbing others. The theater showed “The Sound of Music” for 115 weeks in the 1960s. It later showed X-rated movies. In 1978, Old Dominion University turned it into a playhouse for the school’s theater program. In the 1990s, it hosted concerts including Def Leppard and Quiet Riot.
Levin originally bought the theater and the connecting storefronts in 1992 for $155,700, according to property records. The property is appraised at $724,600. It has been vacant for decades. Childers originally became interested in 2019, but failed to raise funding. He said he is not in good enough health to spearhead a renovation.
For Childers, it was the first time working on a project like this. “It’s the first time I ever messed up this bad in my whole life,” he said. “I’ve never done this before.”
He added that MJ’s was the first restaurant he owned and it succeeded. “I’ve been here 14 years,” he added, “so you win some, you lose some.”