As Diamond Head Theatre celebrates its 100th year, plans for the troupe’s next 100 years include tearing down the 473-seat theater and building a new one on the same property.

DHT Executive Director Deena Dray said she is reluctant to discuss plans in detail since "there is so much that has to happen," including an environmental assessment and a fundraising campaign to cover the cost, estimated at more than $10 million. But to keep its neighbors and supporters in the loop, an open house has been scheduled for 6:30 p.m. March 3 to begin discussions about redevelopment of the theater site and unveil preliminary architectural drawings. DHT also will be seeking feedback from the area’s neighborhood boards.

Dray said she will appear briefly at the Waialae-Kahala Neighborhood Board meeting at 7 p.m. Thursday at Hoaloha o ke Kai Montessori School to announce the open house but plans a formal presentation at a later date.

While the building itself is not on any historical registries, Dray acknowledged that some community members may have strong sentiments about the venue at 520 Makapuu Ave., adjacent to Kapiolani Community College. She said redevelopment would include mitigation "to maintain the history of the theater."

Dray emphasized the project is easily at least three to five years off. She said the 2014-15 season won’t be affected.

The theater was built in 1933 as a movie house for the Army post at Fort Ruger. DHT, formerly known as Honolulu Community Theatre, took up residency there in 1952.

According to Dray, the building has become "quite dilapidated" and lacks stage essentials such as a "fly" system that allows sets to be lifted overhead instead of pushed to the side. The problems are too big to fix, she said, and the building’s physical limitations are limiting DHT’s year-round offerings.

The theater hosts DHT’s popular annual bill of musicals and other productions, summer school for children and teens, and the Shooting Stars youth performing group.

"Our education programs are bursting at the seams," she said. "Our one-room studio is used for rehearsals and for our adult and youth programs."

The theater also is used by church and community groups.

DHT is the third-oldest continuously operated theater group in the United States.