Philadelphia Theatre Company Awarded $5 Million for its New Home on the Avenue of the Arts

September 13, 2004

Today was a remarkable day in the 29-year history of the Philadelphia Theatre Company. Governor Edward G. Rendell presented Philadelphia Theatre Company Board President E. Gerald Riesenbach and Producing Artistic Director Sara Garonzik with a replication of a check for $5 million in support of our permanent home on Philadelphia's renowned Avenue of the Arts.

Located on Broad Street, between Pine and Lombard Streets, our new theater will be part of a $92 million development by Dranoff Properties to construct Symphony House, a 31-floor condominium tower, restaurant/retail space and parking.

Pictured left to right: Philadelphia Theatre Company Producing Artistic Director Sara Garonzik, Philadelphia Mayor John F. Street, City Council President Anna C. Verna, Pennsylvania Governor Edward G. Rendell, Dranoff Properties President Carl Dranoff, State Representative Babette Josephs, Philadelphia Theatre Company Chairman Sheldon L. Thompson, Philadelphia Theatre Company President E. Gerald Riesenbach, Philadelphia Theatre Company Trustee Carol Saline.

"This extraordinary matching grant will be a powerful leveraging tool to help us build a new, state-of-the-art performing home on the Avenue of the Arts that will serve Philadelphia Theatre Company, the community at large and hundreds of thousands of the region's theatre-goers over time," said Sara Garonzik. "We are profoundly grateful to the Commonwealth of Pennsylvania and to Governor Rendell for his belief not only in our project but in the power of the arts to boost our economy and to enrich our society."

Stay tuned - additional details about Philadephia Theatre Company's beautiful new performing home will be announced shortly!

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