The Rialto opens in 1931 on Bank At the time of its opening it was described as beautiful and upscale, but it wasn't well-maintained and the building quickly began to show wear.
In the 50s to 70s, it was known as 'The Rat Hole', because of the other permanent tenants in the building. While it never showed X-rated films, it became notorious as a gay cruising area for many years.
It eventually closes in 1979, being rebranded the Phoenix by Cineplex Theatres before the entire building is demolished in 1991. The former location is now the parking lot between Staples and the Book Bazaar.
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