Celebrities gathered for the opening of the Ricardo Montalban Theatre, owned by a group that advocates greater roles for Hispanics in Hollywood.

The theater is a "dream come true," said the 83-year-old actor, who has long sought a home for Nosotros, the nonprofit theater group he founded in 1970.

The audience Saturday included Hector Elizondo, Robert Goulet and Valerie Harper.

The 1,200-seat theater, the largest theater in the country bearing the name of a Hispanic artist, is the latest remodeling of a historic Hollywood building dating to the 1920s.