Paramount is taking over the Bay Theater, the long-shuttered cinema at Palisades Village formerly leased by Netflix, adding to a wave of revivals of dormant movie theaters across Los Angeles.

Paramount Pictures and developer Rick Caruso on Tuesday announced plans to reopen the theater later this year, bringing first-run theatrical releases from all studios, classics and experiential events to the neighborhood cinema that has been closed since the wildfires ravaged the area last year. The location will be operated by The Lot, a luxury dine-in theater chain.

“Together with Caruso, we are proud to help bring the Bay back to life as a place for the Pacific Palisades community to gather around the shared experience of cinema,” said Skydance CEO David Ellison in a statement. “This theater has always meant more than movies alone – it’s woven into the fabric of this neighborhood, and helping restore it is a privilege.”

Paramount Pictures said it’s exploring opportunities to support the Pacific Palisades community, which includes contributing to the commercial revitalization of Palisades Village. There are plans for the theater to host “experiential activations” and “immersive theatrical moments,” like at The Grove’s AMC theater, another upscale retail and dining property run by Caruso.

In a statement, Caruso stressed Ellison’s “deep commitment to the City of Los Angeles and to the future of the theatrical experience.”

“The Bay has always been at the heart of the Palisades, and its return is one of the most meaningful signs yet that this community, following the reopening of the Palisades Village this summer, is coming back stronger than ever,” he added. “David Ellison and I have a shared ambition to make it one of Los Angeles’ premier moviegoing destinations.”

The reopening is part of a broader revival of L.A.’s cinema scene amid this year’s blazing box office run. It includes Sony’s planned restoration of the Cinerama Dome and rehabilitation of the adjacent ArcLight Hollywood, Amazon’s lease of the Culver Theatre and Netflix’s purchase of the Egyptian in Hollywood. The resurgence isn’t limited to blockbuster venues either. There’s the Jason Reitman-led return of the Village in Westwood, Quentin Tarantino’s takeover of the Vista in Los Feliz and Kristen Stewart’s resuscitations of the Highland Theatre.