In 2006, due to rising rent in downtown Austin, theater owners took steps to hand the theater over to a non-profit group called the "Heroes of the Alamo" foundation, operating the theater as a cultural arts center. However, with the historic Ritz Theater on 6th Street offered as an alternative location, the original Alamo was closed. The final event at the original location consisted of a special triple-feature event the evening of June 27, 2007. The final movie shown was Night Warning, with star Susan Tyrrell attending. At the conclusion of the movie, audience members were allowed to disassemble their seats and take them home as mementos of the theater.