In 1975, Circuit Playhouse, which was established by a troupe of high school actors in 1965, acquired a building in Overton Square in midtown Memphis, Tenn. With $30,000 provided by Overton Square Investors for renovation, and with increased funding from the Memphis Arts Council, Playhouse on the Square was born. It was an offspring of Circuit Playhouse, which continued to produce the kind of adventurous theatre its audience had come to expect. Playhouse on the Square opened on November 12, 1975, with a production of Godspell. It also had a resident company of professional actors and a paid staff. The first season was graced with the performances of actors, which included Larry Riley and Michael Jeter, who would later achieve notable careers in New York and Hollywood.