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II. Description of the Redwood City Fox
The Redwood City Fox is a steel-reinforced concrete building
that was constructed in 1928 and is comprised of a theater with
adjacent commercial space. The Redwood City Fox is an example of
an American "movie palace"--a distinct phase of theater
architecture which occurred primarily between 1915 and 1945, with
its peak period in the 1920's. The Redwood City Fox was built to
serve both as a vaudeville house for live entertainment and as a
"fantasy" movie palace. The inclusion of commercial space within
the larger theater building is indicative of a trend during the
1920's and 1930's to use theaters to create more distinctive
office and retail buildings.
The facade of the Redwood City Fox building is Gothic
Revival with Art Deco themes, and is representative of the late
1920's. The theater incorporates many architectural features of
that generation, including an ornate terrazzo sidewalk, a
recessed entrance, an expansive "Grand Lobby", a high level of
interior decoration, a pipe organ and organ lofts, and numerous
5(...continued)
information. The May 1, 1981, Purchase Agreement executed by
Jacobs and the sellers, Redwood Theatre, Ltd., indicates a
purchase price of $1,000,000, with $87,444 of the purchase price
allocated to the personal property and $912,556 allocated to the
real property. Escrow instructions dated May 8, 1981, also
indicate a sales price of $1,000,000, with an additional
$16,675.36 paid by Jacobs for closing costs and prorated property
taxes. Based on the evidence presented, we find that Jacobs paid
$1,000,000 for the Redwood City Fox and associated personal
property, exclusive of closing costs and property taxes.
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