The Capitol Theatre opened on this site on June 1, 1929. The sold out opening movie feature was a 'talkie' titled, In Old Arizona. The theatre was known as "Northern Ontario's Most Beautiful Theatre" it resembled that of old Hollywood. The walls of the main lobby had panels for posters and glass display cases for photos of current movie stars. At the end of the lobby, six doors allowed patrons to enter the main theatre level to the right or left or travel up the stairs straight ahead to the balcony which boasted the most expensive seating. The theatre was decorated in a Spanish motif with a Spanish style chandelier which hung from the front of the stage.

In hard times, during the Depression, the theatre gave away a piece of cutlery to encourage people to spend their hard earned 35 cents on a mid-week show. During World War II, patrons could pay for their ticket with a piece of steel or metal which could be melted down and used for ammunition.

The theatre has housed more than just celebrities as the Ontario Provincial Police, the Children's Aid Society, Dentist, W.R. Foster, I.K.P Furniture and the Salidas' Bowling Alley all occupied the space at one point

Operating as the Capitol Centre today, the theatre continues to be the community's home for arts and entertainment.