Built in 1874, the current Playhouse originally served as a small, interdenominational chapel for a local orphanage. In 1923, the University of Louisville acquired the land on which the chapel stood, converted the structure into a theatre, and designated it a "temporary building" for use until a permanent theatre could be erected.

In 1977, The Playhouse was dismantled to make room for the construction of the William F. Ekstrom Library and Learning Resources Center. The building was systematically taken apart and safely put into storage.

Rebuilt in 1980 on the traffic island between 2nd and 3rd streets at Cardinal Boulevard, The Playhouse was expanded to include a basement and full-working scene shop.

In addition to the proscenium stage offered by the Playhouse, UofL Theatre Arts productions are also performed on the intimate stage of the Thrust Theatre. Built in 1992 and seating 164 patrons, the Thrust offers a variety of staging opportunities and interaction with the audience.

The building housing the theatre is also the location of the Department's main office, faculty offices, classrooms/rehearsal rooms, and the costume shop.