A plan to redevelop a shuttered theater in Harvard Square received two thumbs up in a meeting with the group seen as the gatekeepers of the neighborhood.

The Cambridge Historical Commission met Thursday with the team behind billionaire investor Gerald Chan’s proposal to redevelop the Harvard Square Theater at 10 Church St. The plan calls for a two-screen movie theater, more than 5K SF of ground-floor retail and 36K SF of offices. The existing brick exterior would be replaced with terra cotta tiles embedded with LEDs to enable changeable designs.

The CHC gave the group positive feedback but wants to see a mock-up of the LED exterior before it gives the developer a certificate of appropriateness, Cambridge Day reports.

“I think everyone who spoke tonight has the correct concern: If you blow this, we’re not going to see anything — this has to be done right,” CHC Chairman Bruce Irving said to the developers. “And I think you guys are headed toward making it work right. I strongly suggest that instead of backing away from it, or watering it down, that you fine-tune it to the highest level.”

There had been opposition to the LED display ahead of Thursday’s meeting, but attorney Anthony Gallucio, who represents Chan, indicated the developer was still exploring the concept and open to feedback before proceeding. CHC Executive Director Charlie Sullivan mentioned the nearby Sheraton Commander hotel’s red neon sign as proof the LED sign wouldn’t necessarily be out of place, but he would like the developer to provide a map showing where in the neighborhood the sign would be visible.

The CHC requested the development team build an exterior mock-up at least 6 feet tall to give the organization a better idea of how 10 Church St. might look after redevelopment.

Gallucio said he hoped for the permitting process for the project to be completed in about 10 months.