Shining a light on Redwood City: Owners of Fox Theatre breathe new life into ‘Deadwood City’

Ever since the couple turned their attention toward the city, they have taken bets on Redwood City’s downtown. In doing so, have invited the surrounding area to do so as well.

The two share an entrepreneurial mindset. Prior to purchasing the Fox together, both were running their own businesses. Lori Lochtefeld, 36, a San Francisco native, was managing Lacewell Realty and Lacewell Insurance, two companies she started after working as a stockbroker and as a financial advisor. Originally from Menlo Park, Eric Lochtefeld, 46, started his career in the music and entertainment industry, creating a company that would raise funds and awareness for large concert events such as the Warped Tour. He eventually started Dream Careers, a global internship company whose growth forced it to relocate in the Bay Area several times before settling in Redwood City in 2007.

“We chose Redwood City for two reasons. There was a theater in the downtown. I’ve always loved old, historic theaters. I used to have pictures all over my bedroom wall of theaters from all over the world,” said Eric Lochtefeld.

For the Lochtefelds, Redwood City’s low rents, big office spaces and multi-cultural restaurants at the time signaled another compelling factor: a city with potential.

For the first six months of Dream Careers’ new location, Eric Lochtefeld commuted to Redwood City from the couple’s apartment in San Francisco.

“You would find with a lot of tech firms downtown, you come to work, you don’t know what’s going on, you go home. You go to lunch eateries, so you might recognize some chefs, or waiters or bar people on your street, but that’s it,” said Eric. “For instance, in my first year and a half, I didn’t know there was a Friday night concert series.”

In 2008, the couple fell in love with a house in San Mateo and moved in as soon as they could. The relocation immersed them more fully in the area, and Dream Careers continued to grow until the recession, and luck, hit.

“Right around [2010-11], I learned that the Fox Theatre had been foreclosed on. And I literally sprinted down the street, three blocks, to talk to the owner,” said Eric Lochtefeld.

At the time, the theater was showing some 40 performances a year in a downtown whose streets emptied before 8 p.m. on weekend nights. For the Lochtefelds, the theater presented a wildly exciting opportunity for them to grow as entrepreneurs and share Eric’s passion for music and Lori’s interest in entertainment with the community. The two pooled their life savings to purchase the Fox out of foreclosure in 2011 for $6 million, taking out a mortgage of $5 million.

But what seemed like a dream come true required both parties to leverage their strengths and learn new skills.

“We quickly realized from day one, if we don’t divide up tasks here and stay in our lanes, this is going to be difficult,” he said.

With a background in sales, Lori Lochtefeld more naturally took the reins on public shows, managing the selection, marketing and operations for each show. Eric Lochtefeld applied his skills to private events and financial and property management. Between renovating the historic property and managing a schedule filled with 200-300 shows each year, the two found themselves developing competencies in unexpected areas. Lori took graphic design classes to create posters for shows, and Eric became well-versed in historical restoration.

But even with their best efforts, the couple quickly realized that their business was only as promising as the city that surrounded the Fox. In the first four months after they reopened Club Fox, they found they had more staff than patrons.

“Lori and I said, ‘Oh boy, we’ve bought this beautiful theater. Now what?’” said Eric Lochtefeld. “We were really worried that the downtown wasn’t going to be vibrant enough to sustain the theater.”

Fortunately, the Fox’s role as a prime event venue propelled the couple into the community. From working at the box office to working with city staff on Courthouse Square events just outside the theater, invitations to civic events, meetings and committees poured in.

“We made a lot of friends. Over time, we started to get asked for assistance. And we tended to say ‘yes,’” said Eric Lochtefeld.

One of the Lochtefelds’ first community projects was developing a funding model for the Music on the Square concert series on Friday nights. Eric Lochtefeld applied his fundraising background to the project, raising $75,000 of the $90,000 in costs in the first year.

Since then, they have partnered with the Parks, Recreation and Community Services Department to purchase a large tent covering Courthouse Square, creating a venue for large, outdoor events. They have also worked with the San Mateo County History Museum and neighboring businesses to provide affordable valet parking and alleviate parking constraints. As they pitched in, they got to know others working to bring life to Redwood City as well.

“We really loved the people who we got to work with,” said Eric Lochtefeld. “We got to know City Council members and city staff because we worked together.”

In building these partnerships, the Lochtefelds have seen firsthand the growing vibrancy that draws tens of thousands of visitors to Courthouse Square for Friday concerts, and tech giants like Google to host their science fairs in the town center.

In the five years they’ve owned the Fox, the Lochtefelds have even seen what was previously known as “Deadwood City” catch the eye of the president.

In May of 2012, the president, at Lori’s indirect request, stopped by the Fox for a fundraiser that raised $1.5 million.

“I literally emailed the DNC and said, ‘I know the president stops at Atherton and San Francisco. Maybe he could stop at the Fox Theatre in Redwood City and we could do a fundraiser around here for him,’” she said.

“That was the best moment of all time. We got five minutes with him backstage,” said Eric Lochtefeld.

And if they hadn’t foreseen just how much ground they would cover when they purchased the Fox five years ago, the Lochtefelds are fairly certain about their next steps.

“Family. We’ve been so busy building our businesses. Now, it’s like, ‘OK, it’s time to start a family,’” said Lori Lochtefeld.

“Everyone keeps asking me, ‘What’s your next venture?’” said Eric Lochtefeld. “I say, ‘Relaxing.’ They say, ‘Oh, that won’t last long.’ I say, ‘watch me.’”

anna@smdailyjournal.com

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