New Details Emerge for Palace Theatre Renovation
New details have emerged following news of a long-planned renovation of Broadway's Palace Theatre, a project which entails elevating the building 29 feet above street level, making way for new retail space to be built underneath it.
According to new reports, the renovation will also include a new entrance on 47th Street will feature an 80-foot-long marquee, as well as, added space in the wings to pave the way for larger productions.
A significantly larger lobby and twice as many bathrooms will also be installed.
Cosmetic touch-ups may be in store, but the interior and exterior will still be perfectly recognizable as the Palace. Historical fixtures, such as the chandelier and decorative plaster balcony fascia, will be restored.
Once construction begins, the elevation and enlargement are expected to take between 32 and 36 months to complete.
Paul Boardman, the president of urban real estate with Fortress' partner Maefield, used shoeboxes to present the elevation plans. "We have the ability, using the columns that exist today, to be able to elevate this theater on jacks that go up," Boardman explained to representatives of The Nederlander Organization, which owns the Palace. He assured them that the theater itself is structurally sound and will stay intact during its slow rise.
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