Finished the new screen Thursday. Total build time was about 1 1/2 hours, total cost was about $57.
The parts were:
(2) 1x3x10 ($6.59 each)
(4) 1x3x8 ($1.45 each) (I only needed 1x3x6 for the 4 boards but for whatever reason the x8's were cheaper)
(1) 118in wide blackout screen (zinc color), 2 yards. ($37 including shipping)
I simply made a frame with the proper dimensions and added two support beams down the center as shown.
I put the support bars kind of in the middle of the frame turned sideways to the other wood because I didn't want that wood touching the screen.
I drilled small pilot holes into the wood and simply used 2 1/2in (2 and a half inch) dry wall screws to hold the frame together.
I then laid the fabric out on the floor and placed the frame on top of it and stretched the fabric onto the frame and fastened with a staple gun about every 8in or so. I Googled how to stretch your own canvas just to make sure I was using the correct technique. I didn't stretch the fabric super tight, just taught enough.
You can see here that the Zinc color fabric is lighter than my painted screen, but I wanted a lighter color because I was moving the projector back and thought it may help with the brightness.
I then put two screws into the wall and hung it as you would a painting. I weighed the frame out of curiosity and it weighed in at 16.5lbs.
Here is an image shot from my phone. Note that this image is NOT in HD, I was watching a standard 480 TV show, but I took the picture out of curiosity and thought it showed the colors very well. I'll post an HD image later.
here are a couple HD images:
All in all, I think it turned out much better than expected. The image quality is perfect. It is just as bright as it was when the projector was closer and even looks good with some lights on. I am 100% satisfied and the screen exceeded my expectations. I am very happy I went this route and would recommend this to anybody. Thank you all who helped my with the ideas.