Marfa had more than a few vacancies. The Pisano Hotel was operating and had some great architecture. However, buildings across the street from the hotel and the adjacent Bright Building were vacant. Some of them boarded, and it looked like retail space took a pretty big hit.
The Palace Theater was not in operation and had fallen on hard times before the lockdown. The building showed signs of deterioration but still looked viable with a little tender love and care. This building could start a revival when the town tries to make a comeback.
The theater was well known when the Movie Giant was being filmed on location off of RT 90. There is a static display as an artistic homage to the movie before arriving in the town. The Ballroom Marfa organization also had an art display of a Prada Store in the middle of the desert.
These forward thinkers and creative people probably have a plan for the theater. I would assume that depending upon the condition of the roof and what remains of the interior architectural fixtures, the re-opening might be a signature project for the town. It was originally an Opera House which would presume that the acoustics in the building probably was pretty well refined.
Marfa has the architectural bones to make for a great restoration and reuse project.