Daily News | Walnut Street Theatre wants to sell naming rights for $10 million, as expansion costs rise
The benefactor would be offered naming rights to the existing main stage, auditorium, or perhaps the entire Center City theater complex, which has long billed itself as America’s oldest playhouse. The wordswould likely be part of any new name, said Mark D. Sylvester, the Walnut’s managing director.in an interview. “The identity is strong. But corporate or philanthropic opportunities for naming have become popular in the arts.
The expected cost of the project has gone up to $48 million, a $9 million increase since it was announced in 2019, according to Sylvester. That estimate covers financing and construction of additional space for performances, rehearsals, classes, and restaurant operations — to be built on a portion of a surface parking lot adjacent to the box office lobby.
The theater had raised about $30 million, and “we were six weeks away from breaking ground” when the pandemic erupted in March 2020, Sylvester said. “The most important mission we have right now is getting audiences back in the seats,” Sylvester said.on the main stage Wednesday as “certainly one of the most exciting of my 29 seasons here ... the audience just went crazy.”
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