In 1996 the cinema was closed when the owners decided to sell the property for redevelopment. After numerous petitions the cinema was reopened on 18 July 1997 under a community trust and its original name restored. After successfully raising money to secure equipment, the re-opened cinema was staffed entirely by volunteers apart from the projectionist. After the support of British Film Commissioner Sir Sydney Samuelson the cinema was able to secure as first film to be shown. Since then The Plaza has been a focal community point in Waterloo, offering Autism friendly screenings, Kids clubs and social clubs. In September 2009 the Plaza celebrated its 70th anniversary.