Former Esquire Theater set for renovations

Once an icon, now an eyesore, the Esquire Theater building on Broadway in Cape Girardeau is finally getting a renovation.

The long-vacant and once-deteriorating historic building could open as early as this fall in the new form of an office and retail space. For those with fond memories of the Esquire marquee, fear not. The developer will incorporate the sign and the historical feel of the theater's exterior into the design.

The project is led by architect Ben Traxel, originally from Poplar Bluff, Missouri. Traxel, who owns Tenmile Companies, moved to Cape Girardeau in 2018, and was impressed by the look and feel of the city's downtown area.

"The Esquire sat empty for so long," Traxel said. "It's sad. People kept saying, 'I wish you could do something with it.'"

In the next week or so, Traxel expects to have his mechanical engineering drawings finished and ready to submit for the city's permitting process. Construction inside the building will begin immediately after the permits are acquired, he said. The financing is already in place, he noted.

History

The Esquire not only has a history of one of Cape Girardeau's movie theaters. It also has a history of proposed renovations that have fallen through. The theater fell into disrepair after being vacant for decades.

Traxel said what makes his project different from previous proposals is that he's not trying to retain the building as an entertainment venue. He said he doesn't believe the building could generate enough income to preserve the Esquire for entertainment purposes. But he and his two partners have studied the real estate market, crunched the numbers, and they've determined the rent from four commercial office spaces and one retail space will provide enough return on their investment to make the project worthwhile.

Traxel said he will lease space from Southeast Missouri State University for parking spaces in the parking lot next to the building. He plans to turn the west side of the building into four office-space entrances, which will be accessed from a new walkway constructed along the side of the building. Each space will have two stories after the inclined floor in the old theater is made level.

Traxel said a new roof has been installed to protect the inside of the building from continued water damage. He said the building had sustained quite a bit of water damage over the years. The building has also gone through the asbestos abatement process.

Traxel said he drew inspiration from a historic theater project in Kirkwood, Missouri, near St. Louis. That historic theater was turned into retail and apartment lofts.

The Esquire, he said, will have a greater visual impact than the Kirkwood project, because the entire side of the Esquire building is exposed.

Traxel is excited about preserving the old Esquire sign and keeping the theater aesthetic. He plans to keep the lettered signs and work with the city to approve video signs as well.

The project will be partially funded with tax breaks offered by what's known as tax increment financing, or TIF. A TIF incentive allows a portion or all of the increased tax revenue generated by the redevelopment to be invested back into the project. In the case of the Esquire project, 90% of the increased property tax revenue will be retained for the development. The TIF is in place for 23 years. After the TIF expires, all the tax revenue will go to the city. Traxel said there is also a 50-50 sales tax revenue split in the retail space, but he said he doesn't expect that to be a significant amount.

Old Town Cape executive director Liz Haynes wrote in an email to the Southeast Missourian that the downtown organization has been working with Traxel "from day one. Revitalizing both downtown theaters is a key initiative of the downtown strategic plan. ... Investing in downtown Cape's historic buildings is absolutely vital to ensure the continued vibrancy of our downtown community, and by extension, our entire region, as Cape Girardeau is the regional hub of southeast Missouri. We are so grateful for those such as Ben Traxel, who are passionate about impacting our community positively."

Traxel declined to divulge his investment amount. He said he's in conversations with potential tenants about leases.

Traxel appears on track to reverse several failed attempts at preserving the building.

In 2011, a $2.4 million plan was introduced to renovate the Esquire building by John Buckner, who made the announcement with much fanfare. Buckner eventually backed out of the project and disappeared from the area after other restaurant and art projects failed.

In 2018, the City Council approved a Tax Increment District that included the Esquire.

A development group called Together Always Giving Development and Cape Theaters LLC submitted TIF proposals, according to newspaper archives. That plan, like Buckner's, also stalled, and the TIF agreement expired.

A new TIF plan was approved in January 2022 for Traxel's Tenmile Companies.

The building was previously owned by Phil Brinson, who died in December 2021.

The Esquire was built in 1946, and completed in 1947. The building included neon lighting inside and out. The first movie shown there was "Blue Skies", starring Bing Crosby, Fred Astaire and Joan Caulfield. Its last movie was "Purple Rain". It closed as a theater in October 1984, seven months after the nearby Broadway Theatre.

Since then, others have tried to use the space to show second-run movies and a teen club with live entertainment that included a large dance floor, and a gospel music theater. All those attempts were short-lived.

The building caught fire in 1990. Firefighters blamed an electric transformer for neon lights. In 2005, the building was named to the National Register of Historic Places. Two years later, a tractor-trailer truck turning out of an adjacent alley hit and damaged the marquee, which was dismantled.