Remember my name: Why Fame is Theatre Royal Plymouth's biggest gamble yet

It has been almost a year in the making.

Now, with opening night just weeks away, Theatre Royal Plymouth is preparing to unveil what could become the most important production in its history.

Fame The Musical, which opens on July 28, is the first show to be entirely produced, built and financed by the theatre itself. If it succeeds, it could establish Plymouth as a producing powerhouse whose shows tour nationally and internationally. If it doesn't, the financial consequences will be felt much closer to home.

The production marks the latest stage in chief executive James Mackenzie-Blackman's ambition to transform Theatre Royal Plymouth from "a hall for hire" into a theatre that creates hit productions rather than simply hosting them.

That strategy has already seen TRP co-produce The Artist and The Devil Wears Prada, the latter transferring from Plymouth to London's West End, where it has now been running for more than 19 months. The former has yet to open elsewhere (although watch this space for possible news soon).

Both productions were backed by outside investors.

But Fame is different. This time, the theatre is backing itself.

"I'm feeling the pressure," admitted Mackenzie-Blackman. "We're in a very specific moment. And I genuinely believe we're going to create something extraordinary. It has huge commercial potential. It's a title people know, and it's the right moment."

He says there is already "industry buzz" surrounding the production, with theatre professionals flying in from the United States to see opening night.

But for Mackenzie-Blackman, the project is about more than ticket sales.

"I don't want TRP to just be a hall for hire," he said. "I want it to be a thriving, producing theatre where there are jobs for artists.

"Plymouth is full of extraordinary artists and makers. We've always been a city that makes things, and TR2 is part of that story.

"I think it's quite easy to be down on ourselves. People aren't always kind about the place they live. I'd love Plymouth to be a bit more like Liverpool because Scousers are incredibly proud of their city. I'm a Plymothian, and I'd love, over the next decade, for people here to be prouder too."

There's a pleasing symmetry to the choice of production. Fame received its European premiere at Theatre Royal Plymouth 30 years ago, making this revival something of a homecoming.

Set in 1980s New York at the High School of Performing Arts, the musical follows students from audition to graduation as they chase success in music, dance and acting.

Director and choreographer Tom Jackson Greaves, Theatre Royal Plymouth's associate artistic director, believes the story is as relevant today as it was three decades ago.

"Fame is an integral part of our history at Theatre Royal Plymouth," he said. "It's a story of discovery, determination and dreaming. It also champions the power of performing arts education and how important it remains in shaping careers, identities and relationships."

For audiences, it's another major musical.

For Theatre Royal Plymouth, it's a statement of confidence in its own future and perhaps in Plymouth's too.