The New York Post reports that the lengthy project, which broke ground May 1, 2006, is in the home stretch of construction on the central island in the northern part of Times Square.
Although the Post said the project is currently running $11 million over budget — with a running total of $19 million — Theatre Development Fund countered with a statement, explaining that the project (originally estimated at $12.5 million when it broke ground in 2006) has run $6 million over budget and accounts for the entire renovation of Duffy Square, including a 100 percent expansion of the plaza.
TDF informed Playbill.com that the new booth accounts for only $2 million of hard construction cost (and another $375,000 for interior and office necessities) of the entire $18.5 million budget to renovate Duffy Square, a New York City park.
For the renovation of Duffy Square, the City of New York originally allocated $9.5 million ($5.5 million from the mayor's office and $4 million from the City Council), with the final $3 million supplied by the Times Square Alliance ($1.5 million), TDF ($1 million) and the Coalition for Father Duffy ($500,000).
As the project has run over budget, the City of New York has invested an additional $1.5 million into Duffy Square, with the remaining $5.5 million coming from the Alliance and its partners, according to a statement from TDF. Originally hoping for a late 2006 opening, the TKTS booth on Duffy Square was delayed due to the bankruptcy of the manufacturer of its glass construction materials and issues with assembling the unique materials for the ambitious project.
Since 1973 theatre lovers and tourists have been flocking to the booth, which offers discounted tickets for Broadway and Off-Broadway shows, music and dance events. Over 50 million tickets have been sold at TKTS locations in Duffy Square, South Street Seaport and the latest addition in downtown Brooklyn, accounting for upwards of $1.4 billion in revenue for productions.
For additional information visit TDF.org.