Yes, they have room for a sprung-sized structure if they wanted it.
Construction in Shrek typically doesn’t start until June/July with a good amount of it getting built off property because there’s not a lot of prep space in/around the building.
The reason why they’re probably not using the second theater is probably because they didn’t want to bother taking up the flat floor and reinstalling the seats without a “need.”
We’re not going to hear anything for a while.