STOUGHTON — A confluence of events is opening a window of opportunity for the town to revive its dormant downtown area.

An updating of the town’s master plan, its upcoming purchase of a key downtown property, the possibility of a theater reopening, and an infusion of state funds to study traffic woes could all add up to a new lease on life for a business district that has been battered by the depressed economy and has many vacant storefronts.