Here's the thing about buying an old car cheap. It's not the $1,000 up front. It's the $5,000 in repairs to keep your rig on the road.
Greg and Marissa Frankenfield paid cash last summer to buy the Old Log Theater from Don Stolz. They plugged a few leaks, replaced some lights and climbed the steep learning curve of running a theater.
Wiser but undaunted, the Frankenfields have doubled down on their treasured little hobby house in Excelsior. They apparently felt it wasn't risky enough just to operate a 600-seat theater as a commercial venture, because they have gone whole hog into the restaurant business — the only game that can make theater seem like a safe bet.
The Frankenfields have spent "$2 million — up to now" refurbishing the Old Log's restaurant, bringing in guru David Shea to redesign the space, changing the menu, expanding the kitchen, redoing the lobby and sealing the theater away from ambient noise. There was heating and cooling to upgrade, spaces to build out and up.
And they did it while sandbagging the theater amid flooding on nearby Lake Minnetonka and "every other form of pestilence except locusts," Greg Frankenfield said.
The public gets a peek when the season opens Friday with "Life Could Be a Dream," directed by Kent Knutson, the Old Log's artistic director and partner in the Frankenfields' venture.
The 250-seat restaurant, which is being named Cast & Cru, will have a soft opening this Friday, in advance of firmer dates in September.
Change is difficult
Greg Frankenfield made his fortune developing software at Magenic Technologies, but he and Marissa long have been involved in theater, as board members (Mu Performing Arts, Mixed Blood) and as producers.