The 630-seat Sundance Sunset Cinema is the fifth in Redford's chain of theaters that cater to independent films, the Los Angeles Times reported Friday. The theater is scheduled to open Friday.
Redford spent $2 million renovating the theater, the former Sunset 5, located in the neighborhood where the actor grew up.
"I was born and raised here and I thought if could do a theater here it would, in a sense, be a little bit like coming home," Redford, who lives in Sundance, Utah, told the Times. "I thought maybe we could revive something that was meant to be."
New digital projectors were installed at the theater, along with a new sound system, extra-wide stadium seats with small tables, along with a bistro and beer and wine bar, the Times reported.
The theater joins four others operated by Redford in Madison, Wis., San Francisco, Houston and Seattle. A sixth theater is scheduled to be opened in Westchester, N.Y.