The theatre opened on September 9, 1901 under the ownership of the theatre magnate, Ambrose Small who reportedly considered this theatre his favourite of his numerous similar holdings. He disappeared mysteriously on December 2, 1919. That day, Mr. Small deposited one million dollars in a Toronto bank account, lunched with his wife and was never seen again. Weeks after his disappearance, the night watchman swore he saw Mr. Small entering The Grand Theatre. Despite this lead, police were never able to close the file. It is rumoured that he haunts the building to this day.