PORTLAND, Ore. -- The 25-year-old Northwest Children's Theater at Northwest 19th Avenue and Everett Street is worried about the future of their building, known as the Northwest Neighborhood Cultural Center.

It lists individually on the National Register of Historic Places and it’s a contributing building in a National Register Historic District.

The theater says over 3,500 kids every year learn singing and acting there. It's also a space for art classes, congressional hearings, health clinics, and more. But the building needs a lot of repair and upgrades to bring it up to code.

The century-old masonry, grand columns, and stained glass windows make one of the last remaining children's theaters in Portland unique.

Claire Hernandez is so proud of her son 14-year-old Martin, who has been singing and acting in productions at NWCT for the past five years.

"They have really created an incredible community there, it is a great place for kids to discover themselves, I don't know if Martin would have known he was so talented," Hernandez said.

The entire theater family is worried though about the future.

"This is a historic building. It's been here 107 years, it's an old Christian Science Church," said development director Nick Fenster as he walked us through the lobby.

The theater has managed the property since 2009 and Fenster says they've updated the electrical system, fire alarms and emergency lighting, but it needs a new roof and millions of dollars in seismic upgrades.

It's complicated, but the property is owned by six Northwest Portland neighborhoods collectively as a nonprofit. Fenster says any money it makes, has always been re-invested in the property for the good of the community.

Dan Anderson, former president of that nonprofit neighborhood board told KGW everyone needs to have an open, public discussion as to the future of the building. He stressed that that discussion could include a sale of the property, but they are not on any particular side. Anderson said the theater needs to respect the neighborhood investment in the building, and engage the stakeholders who have a vested financial interest in its future.

The theater wants the chance to raise $5 million for the repairs and to buy the building away from the neighborhoods. Anderson says that option could also be on the table.

Fenster and others are worried that a sale of the building to a developer could lead to demolition.

"Just to be replaced by condos or some other commercial development? We think that's the wrong choice for the neighborhood and we hope people turn out and make their voices heard," Fenster said.

However, according to Restore Oregon, which helps preserve historic buildings around the state, demolition would be very difficult.

“In Portland, properties on the National Register are protected against demolition. It would take a vote by the City Council to approve the demolition of the building – and that is highly unlikely as a very compelling case would need to be made that there was greater public benefit in the replacement of the building than in its retention, and there would have to be the political will to withstand the uproar from the public,” said Peggy Moretti, executive director of Restore Oregon.

According to the nonprofit ownership group, the theater building and adjacent parking lot is estimated to be worth $3.5 million.

Parents like Claire Hernandez want to help preserve the cultural center for kids for years to come.

"It makes me feel sad, not just for the theater community but for Portland as a city, that historic buildings are treasures that we should value and respect and honor," she said.

On Thursday, Feb. 23, some board seats are up for grabs in a vote. Both sides want as many people as possible from the Goose Hollow, Arlington Heights, NW District Association, Industrial District, Hillside and Linton neighborhoods at the meeting at 7 p.m. at the cultural center. Those boards seats would determine if a future vote on a sale of the building was held.

Portland City Commissioners Nick Fish and Chloe Eudaly wrote letters in support of the theater staying open.