City establishes team to oversee $400M arts center at WTC

New York /
Aug.August 19, 2011 09:05 AM

Community members and city officials remain committed to building a 1,000-seat performing arts venue anchored by the Joyce Theater at the World Trade Center, the Wall Street Journal reported, especially in the lead up to the opening of the Sept. 11 memorial. A new board is currently being formed to oversee its creation.

“Between now and the 10th anniversary, the focus will be on getting the memorial open and preparing for the anniversary, but as we get to this fall, everyone’s going to say, ‘What is the next step?’ and ‘How do you fully round out the site?'” said state Sen. Daniel Squadron.

With construction still six years away, the Lower Manhattan Development Corporation has allocated $155 million for the Frank Gehry-designed project, which is estimated to cost $400 million to $500 million. There is still a huge funding gap, and the board will have to scout donors.

“It’s very critical that we look at this as an economic development process which will bring construction jobs, long-term jobs and foot traffic to the myriad small businesses that are in the neighborhood,” said Julie Menin, chairwoman of Community Board 1. [WSJ]


Related Articles

arrow_forward_ios
New Yorkers can enjoy going to the movies again on March 5. (iStock)
Showtime: NYC movie theaters to reopen
Showtime: NYC movie theaters to reopen
(Getty, iStock)
AMC theaters to reopen next week, but not in New York
AMC theaters to reopen next week, but not in New York
Durst Organization chairman Douglas Durst and Advance Publications president Donald Newhouse with One World Trade Center (Newhouse by Ilya S. Savenok/Getty Images for The Association for Frontotemporal Degeneration; Unsplash)
Condé Nast may be moving out of 1 WTC
Condé Nast may be moving out of 1 WTC
Moody's CEO Raymond McDaniel and 1 World Trade Center (McDaniel by Alex Wong/Getty Images; Pixabay)
Moody’s looks to sublease its 1 WTC office
Moody’s looks to sublease its 1 WTC office
Clockwise from left: Celonis co-founders Bastian Nominacher, Alexander Rinke, and Martin Klenk with 1 World Trade Center (Credit: Celonis)
German tech firm snags full floor at 1 WTC
German tech firm snags full floor at 1 WTC
A Victoria's Secret store in New York (Credit: Getty Images)
Victoria’s Secret sues WTC landlord amid store closures and layoffs
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
Lawsuit over WTC design is whittled down
Condé Nast lands a second full-floor to sublease its space at 1 WTC
Condé Nast lands a second full-floor to sublease its space at 1 WTC
Condé Nast lands a second full-floor to sublease its space at 1 WTC
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...