Minneapolis City officials now say there's hope of saving the historic Shubert Theater in downtown Minneapolis . The classic-revival style Shubert sits vacant on Block E across from the Target Center. City officials are leaning toward approving a retail/cineplex and parking complex on block E that can't accomodate the Shubert. But today, Council President Cherryhomes and Rebecca Yanish, executive director of the Minneapolis Community Development Agency announced a possible solution to the development versus historic preservation fight.