On Wednesday, Nov. 17, at 11 AM, New York State Governor George Pataki will unveil the marquee at the new "Loews 42nd Street E Walk Theatre." The ceremony comes close to a week after the theatre opened for business Nov. 12, and symbolizes the ongoing and widespread commitment by government officials to resurrect the Times Square area.
The success of the program to redevelop the greater Times Square area is closely linked with the resurgence of Broadway. For its part, the Pataki administration says that the massive redevelopment symbolizes "the promise of New York's partnership with the business community." The theatre complex is described by state officials as an important feature in "E Walk," a $70 million, 193,500 square foot entertainment and retail complex (include a 13-screen movie theatre) that will anchor the westerly end of the 42nd Street redevelopment. E Walk is located at Eighth Avenue and W. 42nd.
Officials say that in addition to the State's $70 million investment in the project, there has been a subsequent private investment of $2 billion in the Times Square area. One State source put the public investment figure as high as $75 million.
Other projects include the Forest City Ratner project across the street. Additional comments and information on the progress of the redevelopment are expected Nov. 17. At the theatre's inauguration ceremony, Gov. Pataki is expected to be joined by other notable guests.
-- By Murdoch McBride