The property has been vacant and the subject of attempted demolitions for many years. When the Whittier earthquake damaged the Vega Building, demolition efforts accelerated. County inspectors declared the building unsafe for occupancy, and businesses operating in the building, including a jewelry store, a shoe repair shop, and a bowling alley, were evicted. In 1992, the Vega Building was razed, and in 1994, the family that had owned the property for 20 years sought to have the building removed from the National Register of Historic Places to clear the way for potential demolition of the theater. The
Mothers of East Los Angeles and the
Los Angeles Conservancy fought the demolition plans. The Conservancy noted that the theatre was one of fewer than two dozen buildings in Los Angeles in the Spanish Churrigueresque style. In 2003, the property was acquired by M&A Gabaee, an affiliate of the Charles Co. Rumors spread that the new owner planned to convert the property into a
Walgreens Drug Store. A representative of the owner told the
Los Angeles Times: "We're in negotiations so everything is preliminary. We plan to keep the structure. The building is absolutely gorgeous. We want to maintain that but we also want to find what's going to work. We're looking forward to rejuvenating it." Preservationists expressed concerns that the new plans would preserve the outer shell of the building but gut or significantly alter the building's interior. In particular, concerns were raised that the theatre's soaring interior and
proscenium arch would be replaced with a
dropped ceiling. On May 25, 2010, the
Los Angeles County Board of Supervisors approved the conversion of the theater into a 24-hour drug store. It opened as a
CVS on August 19, 2012. ==See also==