Christmas came a day early for many New Yorkers who were glad to hear the news that the City of New York was contributing $25 million toward the $60 million Gehry- designed Signature Theatre Company to get the project off the boards. Readers will recall that the theatre project was once planned for Ground Zero. But the latest plan calls for it to be part of a 59-storey residential and hotel tower located in Midtown at the intersection of 42nd Street and 10th Avenue.
The new space is expected to house three theatres, rehearsal studios, a café, bookstore and administrative offices. A spokesperson for Gehry said designs for the project were in the final stages of development and would likely be released in the spring.
While Gehry is the architect for the theatre company, the tower itself is being designed by Arquitectonica, which designed the nearby Westin Times Square, and Ismael Leyva. The project is slated for completion in 2012.