Wealthy Theatre was built in 1911 and housed vaudeville productions and live musical and theatrical performances. As technology and tastes changed, the theater became a neighborhood movie house. During World War I it was used as a warehouse for the Michigan Aircraft Company. The theater remained popular through the mid-20th century but eventually closed in the late 1970s as suburban theaters took its place. The building was vacant and in disrepair until the East Economic Development neighborhood association launched a capital campaign that supported its restoration. The Theatre re-opened in 1998 as a community arts center and is the anchor of a revived neighborhood.