NY’s Financial District Makes Way for Ronald O. Perelman Performing Arts Center

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The Ronald O. Perelman Performing Arts Center. Rendering by LUXIGON

By Hellen Zaboulani

Installation of the outdoor marble façade is underway for the Ronald O. Perelman Performing Arts Center.

The upcoming tower is located in the heart of the financial district, on the site of the World Trade Center, owned by the Port Authority of New York and New Jersey, and near the Skidmore Owings & Merrill‘s One World Trade Center. The 138-foot-tall cubic tower, which will become the performing Arts Center, had its outer steel structure completed in July, having been topped off at the end of June. As reported by NY Yimby, since then, work has been done to enclose the exterior with the black metal framework to support a marble shell. Last Week, installation began on the first marble panels.

The tower is being designed by REX, with Davis Brody Bond Architects tapped as the executive architect. It is being developed by non-profit company, The Perelman. Its benefactor is none other than Ron Perelman, the banker, businessman, investor, and 78-year-old billionaire. Perelman has a net worth of $2.8 billion this year, down from $7.4 billion in July 2020, and down from an estimated $19.8 billion in early 2018, as per Bloomberg. Perelman has been offloading his investments over the past two years. Perelman’s company, MacAndrews & Forbes, invests in a wide array of sectors including groceries, makeup, cars, security, gaming, photography, television, camping supplies, jewelry, banks, and comic book publishing. Perelman is annually one of the largest philanthropic donors in the world.

Perelman has donated $75 million towards creating a multi-space performing arts center at the northeast corner of the World Trade Center complex. While an official opening date has not yet been set, the Performing Arts Center’s website says it is slated to open sometime in 2023. It will be a “unique venue for theater, dance, music, chamber opera, film and media.” The theater spaces will offer flexible performance venues, which can transform from an 80-seat open experimental space, a 440-seat in-the-round theater, a 629 seat performance hall, or at full capacity it can accommodating over 1000 people. The northern wall, along Vesey Street, will feature outdoor terrace space. To the east, will be the grand staircase facing the 9/11 Memorial. A public plaza on the eastern side of One World Trade Center is now complete but not yet open.

As per the organization’s website, the 129,000 square foot building will be equipped with smart design including: 21st century ventilation systems, touchless bathrooms, virtual and augmented reality, and advanced fiber optic infrastructure.