St Albans cinema dream: 'A reflection on the mounting campaign' (From St Albans & Harpenden Review)

St Albans cinema dream: 'A reflection on the mounting campaign'

3:11pm Wednesday 10th March 2010 in

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WITH the St Albans cinema dream a giant leap closer to reality, reporter Alexandra Barham takes a look back at the history of the awe-inspiring campaign to reach the £1 million target.

The Odeon cinema in London Road has been saved, thanks to the generous people of St Albans.

In just seven weeks, people from across the district have dug deep into their pockets to stump up more than £1 millon needed to buy the dilapidated art deco building in St Albans.

Delighted cinema entrepreneur James Hannaway, who restored the fortunes of the Rex in Berkhamsted and plans to work a similar transformation in St Albans said today: "Well done St Albans. You've done it and all in seven weeks and three days since January 21(when the Alpha bank account first opened)."

The Review followed the campaign as it edged towards its target and we were delighted to break the news this morning that St Albans had amassed its million.

The ambitious project to buy the cinema, to be resurrected as The Alpha, has drawn support from all pockets of the community, including St Albans Civic Society, residents, businesses, among many other contributors.

Cyber supporters of the project even launched an online forum on popular social networking site Facebook, encouraging members to dip into their pockets and support the project.

Marion Hammant of St Albans Civic Society, which has proved instrumental in promoting the campaign, said: "It shows that the people of St Albans and surrounding areas have put their money where their hearts are - it shows what can be done."

Throughout the massive fundraising mission, Mr Hannaway repeatedly thanked the people of St Albans for their commitment and determination to making the cinema dream a reality in St Albans. While reiterating his thanks to all investors, Mr Hannaway also extended his gratitude to the Review for our continuing support of the campaign through consistent and up-to-date coverage.

The project began on a Sunday afternoon in November last year when film enthusiasts gathered at Mr Hannaway's successful enterprise in Berkhamsted to hear how they could back the St Albans cinema dream. Many, determined to protect the cinema from developers and see it plucked from the ashes, made immediate pledges on paper to invest in the scheme. Mr Hannaway devised a range of sponsorship opportunities, suggesting that supporters buy a seat in the new cinema, or sign up for a membership.

The Alpha Fund, launched in January 2010, soon began to swell, at times by substantial sums from generous investors. However, there were moments throughout the mounting campaign when the curtain looked set to fall on the cinema plan. Having overrun the initial deadline to exchange contracts in February, the site's owner put it back on the market, complete with planning permission for 14 luxury flats and an underground car park.

With £520,000 in the bank, Mr Hannaway began working on borrowed time to plug the cash shortfall, optimistic that he could eventually close the deal. The people of St Albans too retained faith in the project and contributions, ranging from a few pounds to thousands, continued to flood in, propelling the project towards its target.

Today the extraordinary work paid off.

Mr Hannaway has urged residents to crack open a brown ale in celebration of the city's ambitious achievement, but asked that we shelve our champagne bottles until the deal has been sealed. A date for exchange of contracts is expected to be announced by Friday.

"There are still some hurdles," he warned. "We will keep you informed on dates of exchange and completion. The time for euphoria and excitement comes after the small print is written and agreed."

The sum will simply secure the building - however restoring the Odeon to its former glory is likely to cost a further £2 million.

Mr Hannaway promised the people of St Albans that once the cinema was ours he would do "everything necessary to ensure its lasting and beautiful restoration".

We wait with eager anticipation.