City OKs performing arts center for WTC site

TRD New York /
Feb.February 15, 2010 01:04 PM

The planned Ground Zero performing arts center has finally gotten the go-ahead from the city, and after a long debate over the facility’s location, officials confirmed last week that they’ve settled on the one originally proposed. Construction on the theater’s foundation, a $50 million project in the area between Fulton, Greenwich, Vesey and Washington streets, will begin next quarter, Crain’s reported. Plans ultimately call for a 1,000-seat performance space, which will be designed by Frank Gehry and run by the Joyce Theater, a dance organization. Although the work on the already-delayed underground foundation is now getting a jumpstart, construction on the building itself will have to wait until after the permanent transportation hub that will house a PATH station is finished, a project that will take at least another four years. By that time, the fundraising picture may be different; some peg costs for the performing arts center at around $500 million. “The city is not giving up, and the Joyce is not giving up, but the delays have now put us in an economic climate that will have a long-term systemic impact on funding,” said Norma Munn, chair of the New York City Arts Coalition. With that in mind, some are pushing to move the center to the site of the former Deutsche Bank building at 130 Liberty Street, where work could begin sooner and costs would be lower. [Crain’s]


Related Articles

arrow_forward_ios
Related chairman Stephen Ross with 30 Hudson Yards, 1633 Broadway and 55 Hudson Yards (Credit: Getty Images, Paramount, Wikipedia)

Here were NYC’s largest real estate finance deals of 2019

A&E Real Estate Holdings principal Douglas Eisenberg and the properties (Credit: The Rego Park 18 Portfolio)

Deutsche Bank provided A&E $97M in financing for big Rego Park buy

55 Hudson Yards, Facebook CEO Mark Zuckerberg (Credit: Google Maps and Getty Images)

Here’s how much Facebook is paying at Hudson Yards

A Victoria's Secret store in New York (Credit: Getty Images)

Victoria’s Secret sues WTC landlord amid store closures and layoffs

The architect claims the design, construction and marketing of the tower rips off the design of a tower he planned and modeled for his thesis

Lawsuit over WTC design is whittled down

Jerry Rotonda (Credit: LinkedIn)

Former Deutsche Bank exec has defaulted on $3M loan, lawsuit says

From left: London, Shanghai and Paris

The TRD weekly global digest

Related CEO Jeff Blau, Deutsche Bank CEO Christian Sewing, and Time Warner Center at 10 Columbus Circle (Credit: Getty Images and Wikipedia)

Deutsche Bank shrinks footprint at future Columbus Circle home amid global downsizing

arrow_forward_ios
Loading...