The Martha’s Vineyard Film Society made a giant leap toward its dream of a permanent home on Thursday night when the Martha’s Vineyard Commission approved a new 6,000-square-foot, 190-seat theatre at the Tisbury Marketplace overlooking Lagoon Pond off Beach Road in Vineyard Haven.

The developer for the project is architect Sam Dunn, who built the marketplace in 1984. The tenant will be Richard Paradise’s itinerant, nonprofit film society.

The Martha’s Vineyard Commission got its first look at the Edgartown National Bank’s ambitious plans to demolish the Oyster Bar, an Oak Bluffs restaurant, and build a three-story building in its place. On Monday, building plans presented to commissioners included a bank branch, two commercial units and four two-story townhouse condominiums at the Circuit avenue site of the former restaurant.

Citing an opinion from legal counsel, the chairman of the Martha’s Vineyard Commission Thursday night blocked a move by one of his colleagues to revisit the roundabout decision.