Space Needle Acquires Portion of Pacific Science Center Campus for $17.25 Million
Seattle’s Space Needle LLC has purchased approximately 25% of the Pacific Science Center’s campus, including the Carnevali Pavilion, the Boeing IMAX Theater, and part of the Ackerley Family Gallery, in a deal finalized on March 16, 2026. The transaction, valued at $17,250,000, aims to bolster the science center’s financial stability and fund critical infrastructure improvements .
Strategic Partnership and Financial Sustainability
The sale represents a strategic move for the Pacific Science Center, which has faced financial pressures due to rising costs and aging systems. Built for the 1962 World’s Fair, the campus requires significant investment in utilities, accessibility, and exhibit infrastructure . Proceeds from the sale will be allocated to campus improvements, including the development of a Maker & Innovation Lab, expanded public access to historic courtyards, and the creation of new educational programs .
According to Will Daugherty, President & CEO of Pacific Science Center, the transaction and the resulting partnership with the Space Needle will create opportunities for PacSci and the community it serves . Ron Sevart, CEO of Space Needle, expressed excitement about the partnership and its potential to bring new energy and experiences to Seattle Center .
IMAX Theater and Future Plans
The Boeing IMAX Theater, a key component of the sold property, is scheduled to reopen in May 2026 following renovations and will continue to operate as an IMAX venue . Both organizations have committed to preserving the landmarked features of the campus, designed by architect Minoru Yamasaki, with any changes requiring approval from Seattle’s Landmarks Preservation Board .
The Pacific Science Center Board of Directors approved the transaction in July 2025 after a multi-year review process, selecting the Space Needle proposal as the strongest option based on financial terms, alignment with the science center’s mission, and partnership potential .