Dreamland Sold

Most often, it seems to me, when someone tells you that they’re passionate about something, they say it with a passionless voice and no apparent passion at all.

I spent some time with Rick Ulmer this week after he called me late late Tuesday night to say he was buying the Dreamland. I met with him a few times to offer my help, my thoughts and my encouragement. His excitement is contagious. Wrapping up our last meeting with Jonathan Burkhart (Nantucket Film Festival Chairman of the Board) and Michael Kopko (selectman), Rick began to choke up when he told us how lucky he felt to be able to save such an important part of our heritage. That, my friends, is being passionate about something.

Details:

The Dreamland Theatre has been sold to Rick Ulmer, current owner of the
Rose & Crown and Foood for Here and There, for an undisclosed purchase
price.

“My first goal was to save the Dreamland so it will always be a movie
theater downtown.” Rick told me. “The rest of the project will be
scaled for Nantucket, and it will be open year round.”

Rick’s plans currently call for full restoration of the movie theater
and concession stand on the first floor, a ballroom on the second
floor, and a restaurant on the third floor.

The Ballroom will be designed as a multipurpose space with a stage. The
space could be rented to theater groups, wedding parties, proms,
receptions, and group meetings. With a second projector, the second
floor could also be used to show independent film or children’s movies
at the same time as the main theater.

Rick will operate the third floor mid-priced restaurant, with both
indoor and outdoor dining overlooking the Easy Street Basin.

The parking area at the rear will be sold to the Nantucket Land Bank at
below market value to be converted to parkland for the public. It could
have a bandstand and accommodate public events.

The renovation is intended to restore the exterior of the building with
minimal changes. There will be no underground garage, no high-end
condos and one less restaurant.

“I’m so glad to know that a local business owner will now take the
reins and restore the Dreamland to its original glory”, said Jonathan
Burkhart, President of the Nantucket Film Festival.

The business will be structured as a for-profit LLC. Rick’s closed friend Judy Seinfeld is
an investor. Rick is developing an investor packette and will be meeting with interested parties
in the next 2 weeks.