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Gehry-Designed Theatre to Open in $800M MXD

NEW YORK CITY-Part of the Related Cos.' 1.2-million-square-foot project at 440 W. 42nd St., the Signature Center is slated for completion in 2012.

By Paul Bubny | Updated on December 23, 2009

NEW YORK CITY-The city will put in $25 million toward the cost of building a $60-million new home for the Signature Theatre Co., which will be part of the Related Cos.’ forthcoming 59-story mixed-use project on 42d Street west of Times Square. The developer recently resumed work on the $800-million tower, which had been suspended in late 2008, after reaching a project labor agreement with construction unions.

Star architect Frank Gehry is designing what will be known as the Signature Center, a component of a 1.2-million-square-foot project at 440 W. 42d St. that will also include a hotel and 800 residential units, including 163 affordable rentals. Along with the Bloomberg administration’s $25-million commitment, Signature Theatre has raised $16 million and plans to raise $19 million more, according to a release. The Related tower, which is aiming for LEED certification, is scheduled for completion in 2011, with the Signature space opening in 2012.

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