The Pershing Square
is in New York's MiMa development.
The Pershing Square Foundation, the philanthropic arm of
Bill Ackman’s $10.4 billion
Pershing Square Capital Management, led in part by his wife
recently announced a $25 million donation to New
York’s Signature Theater, set to open off-Broadway
this week. The Frank Gehry-designed venue, to be named "The
Pershing Square Signature Center," boasts three small theaters,
rehearsal space, a café, bar and bookstore. It is
located on far west 42nd St, inside the ritzy, new MiMa
"Signature has made a remarkable contribution to the
cultural life of New York. With the opening of their new home,
their impact on the city will increase significantly. We are
especially pleased to support their groundbreaking program to
provide access to great theatre, which we see as an investment
in New York and the theatre community that will pay dividends
for generations to come," Bill Ackman said in a statement.
In particular, the donation would extend to 20 years an
initiative that allows the theater to offer
$25 ticket prices to all productions.
"Theater has to engage with the diversity of who we are,
both in terms of what we see on the stage AND who is in the
audience, or else it ceases to be vital," Signature board
member Edward Norton said. "That's what's so special about what
Bill and Karen have done here because they've said 'Let's not
just build a great new theatre, let's commit to making sure
that it's truly for everybody.' That's just magic."
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