SANTA MARIA, Calif. - The owners of Santa Maria's Hi-Way Drive-In plan to close after Thursday's last showing.
In a post on their website, the owners released a statement saying they are shutting down due to the economic climate and changes in the film industry.
"We are grateful to all of our wonderful and loyal customers over the past 43 years. We are especially grateful to all of our current and past employees who worked so hard to keep us open," the Gran Family wrote in their statement.
The non-profit organization People Self-Help Housing plans to build an affordable housing complex where the drive-in currently stands. The proposal is for 49 single-family homes on the site located along Santa Maria Way.
The planned development has appeared before the planning commission and city council already, but other approvals are still needed.
Under a best case scenario for developers, construction could begin within a two-year time period if final approvals come in a timely manner.
Spider-Man: No Way Home is the final movie at the drive-in. The last two showings are set for Wednesday and Thursday night, starting at 7:00 p.m.