Photo courtesy of Somerville Theatre

Independent cinema has a future in Davis Square following the 112-year-old Somerville Theatre’s acquisition by its operators.

The new owners have launched a GoFundMe campaign to help pay off debt tied to the $12 million purchase. The campaign has raised $57,024 toward its $90,000 goal to date.

Longtime theatre staff formed CSB Theatres Inc. to run the property in 2025 and signed a multi-year lease agreement. 

Co-owner Ian Brownell, who is a producer and director, and an undisclosed benefactor and theater patron served as private lenders for the acquisition.

The longtime owners of the property, the Fraiman family, listed it for sale in July, prompting the current operators to pursue an acquisition.

“Our names are on the paperwork, but the Somerville Theatre will always belong to its community,” Brownell said in a statement.

The 840-seat venue includes three screens and hosted performances spanning the vaudeville era to modern-day cinema. The 3-story building was developed as part of a complex including stage shows, opera, movie theater and bowling alley, along with office space and ground-floor storefronts.

The acquisition includes a second-floor live music venue and event space, the Crystal Ballroom, which reopened in 2021 after a renovation project converting smaller screening rooms into a 500-person-capacity venue for live music, comedy shows, private events and community meetings.

Under the new ownership, a nonprofit will be formed to operate the theater.

The transaction included financial backing from First Citizens Bank & Trust Company.

CSB Theatres also recently extended its lease to operate Arlington’s 101-year-old Capitol Theatre, which was placed on the market by the same ownership group in July.