Michael Bloomberg injects $75M into the Shed at Hudson Yards

$421M has now been raised for the center’s capital campaign

New York /
May.May 25, 2017 10:53 AM

Former Mayor Michael Bloomberg donated $75 million towards the construction of the Shed, an arts center slated to open at Hudson Yards in 2019.

Bloomberg made an undisclosed donation of $15 million in 2012, the New York Times reported, and yesterday added $60 million to his contribution. The money was given through his charity organization Bloomberg Philanthropies. A total of $421 million has now been collected toward a $500 million capital campaign, the Shed’s chairman and president Daniel Doctoroff told the newspaper.

In 2013, the Bloomberg administration allocated $50 million to the Shed, which was the biggest cultural capital grant of that year.

Designed by Diller Scofidio + Renfro in collaboration with Rockwell Group, the shed is a flexible, performative structure that can physically changed for different performances and guests. Spanning six levels, it will have 25,000 square feet of museum space, a 500-seat theater, event and rehearsal space and an artist lab. Construction started in mid-2015 and is scheduled for completion in 2019.

Related Companies’ TRData LogoTINY Stephen Ross, the main developer of Hudson Yards, is on the Shed’s board, along with Diane Von Furstenberg. The fashion designer, with husband Barry Diller, gave at least $35 million to the High Line, which will have direct access to the Shed, according to the Times.[NYT]Miriam Hall

(To view more new construction in Hudson Yards, click here)


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