In 1973, Theater of the Stars took on a major renovation of the deteriorated auditorium, changing the name to Peachtree Playhouse. Several years and production later, the theater was once again in need of major costly repairs.
In 1988, a new tenant took over the lease and the theater and surrounding gardens became the nightclub Petrus. A few years later, club AXYS came and went. After several years of dormancy, Eleven50 took over the lease and introduced a nightclub and special events venue concept like no other in Atlanta. Eleven50 enjoyed an amazing run from 2000-2006 and then decided it was time to renovate the entire venue.