PARIC Construction completed construction of the Stifel Theatre, formally the Peabody Opera House in October 2011. The original building was completed in 1934, and originally contained an auditorium back-to-back with the Opera House. The project included the renovation of the existing five-story, 315,634 sq. ft. building and various site improvements transformed the Opera House into a full entertainment theatrical event venue. There is a main 3,200 seat theater and four additional side venues. A new VIP entrance located off of 14th Street has also been added. Specific areas will be restored and refurbished to their original historic profiles.
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The new 28,000 sq. ft. facility is located on a 30-acre site development within the Matagorda Drainage district and is within an existing FEMA flood area. The site required select fill to be utilized, allowing the property to be brought out of the flood plain, along with significant drainage ditch and road improvements.