The was done awhile ago.. But at least since the 70s.. Im bad with years.. I know it had to be more modern because visual affescts were not cheesy like the original startrek. LoL.
Anyway.. The plot starts out about young-ish boy street magician.. Maybe supposed to be late teens or early 20s.
Come to find out he can do real magic.
There is a hidden world or at least not obvious to main stream people of people that do good magic and those that use magic to take over somehow. I forget if its taking over the world or just the world of magic. But an older guy and a woman locate him and train him to use his magic.
By the way this is taking place in america most likely.. And in a city.. Im not sure if its like new york or san Francisco. But its a relatively big city..
So anyway.. They create a hidden room where they can train the kid to excel at his magic.. Things like levitation and illusion.. And some other stuff.. But he has to fight the bad guys to win and save the good magic i guess.. He is meant to be some kind of leader because i guess the guy training him must have to pass on the legacy and the all that kind of stuff.
By the way..yes. The movie was in color.