• Home
  • Latest
  • Coins2Day 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
SuccessNew York City

With $130 million from Mike Bloomberg and $75 million from Ronald Perelman, a performing arts center opens at Ground Zero

By
Jennifer Peltz
Jennifer Peltz
and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Jennifer Peltz
Jennifer Peltz
and
The Associated Press
The Associated Press
Down Arrow Button Icon
September 7, 2023, 5:39 PM ET
Joshua Ramus
Joshua Ramus, architect of Perelman Performing Arts Center, tours the staging area, Tuesday, Aug. 29, 2023, in New York. AP Photo/Bebeto Matthews

In a mammoth room behind translucent marble walls, workers are setting the stage for the World Trade Center’s newest addition.

Recommended Video

It isn’t another office tower, nor is it a monument, at least explicitly, to the memory of the Sept. 11 terror attacks. It’s a theater complex.

Envisioned two decades ago to add vibrancy and draw people to a place of devastation and mourning, the Perelman Performing Arts Center is finally arriving at a very different ground zero. The site is ringed by new skyscrapers and located in a neighborhood that has more residents than before the attacks. Annually, millions of visitors come to the memorial and museum.

Still, organizers believe the arts space, also called “PAC NYC,” has an important role to play in one of the most sensitive, historic spaces in the United States.

“The memorial is here for people to come and grieve and pay their respects. The museum is for people to learn, be aware and never forget,” says Khady Kamara, PAC NYC’s executive director. “And the Performing Arts Center is here for people to celebrate life and really celebrate the resilience of New Yorkers and of the country.”

Perhaps befitting a space for theatrical drama, the $560 million institution has been through no shortage of its own. There were financial roadblocks, political buffeting and a yearslong wait for construction to begin while its designated spot accommodated a temporary transit hub. Leaders, architects, design and occupants changed.

Now the curtain is set to rise Sept. 19 with the first of five concerts focused on a theme of refuge. They follow invitation-only events, including an open house for Sept. 11 victims’ families and first responders on the 22nd anniversary of the attacks that killed nearly 3,000 people at the trade center, the Pentagon and a Pennsylvania field.

“A day doesn’t go by where I don’t think about 9/11 and the responsibility that we have to that community,” artistic director Bill Rauch said recently from the cube-like building, which stands 138 feet (42 meters) tall.

Daylight filters through the Portuguese marble walls and turns them into a radiant amber quilt patterned by chocolate and caramel veins. Sedate by day, the building’s boxy exterior is designed to glow from within at night. Its nearly 5,000 marble panels are backlit by chandeliers in a corridor surrounding theater.

Nearby but out of sight is the 9/11 Memorial, which is obscured by the 12-centimeter (half-inch)-thick stone, subtly encased in glass for protection and energy efficiency. The windowless design keeps the buzz of theatergoers at a respectful distance from people who are paying tribute at the memorial, and vice versa, architect Joshua Ramus explained.

“I didn’t want to treat the memorial like a spectacle,” he said.

The arts center was built largely with private donations, including $130 million from former Mayor Mike Bloomberg and $75 million from investor Ronald Perelman, plus $100 million from a government-financed redevelopment agency.

“There’s never been anything like it in the area, and it’s going to continue fueling the city’s comeback from the pandemic — just as the arts helped fuel our comeback after 9/11,” Bloomberg said in a statement.

With moveable walls, seats, floor sections and even balconies, the space can transform from a 1,000-seat venue into three smaller spaces. Those, in turn, can be arranged into a total of 62 different stage-and-audience configurations, with some as intimate as 100-seat rooms.

Special walnut paneling deals with the acoustical challenges of variable audience sizes and stage locations. Foot-thick (0.3-meter-thick) rubber pads beneath the theaters absorb the sound and vibrations of a hive of subway and commuter train lines.

The opening season includes works as reflective as an opera about a case of racist hazing among U.S. Soldiers in the post-9/11 war in Afghanistan, and as exuberant as “Cats” reimagined in drag ballroom culture. “The Matrix” actor Laurence Fishburne is premiering a one-man show. Authors and presidential daughters Jenna Bush Hager and Barbara Pierce Bush are talking about parenting. Native American comics are coming together for a night of stand-up.

“We didn’t want to avoid the subject of trauma, but we also didn’t want to soak in it,” Rauch said. He and Kamara emphasize that the institution aims to feel accessible and draw a wide range of people, with ticket prices starting at $40 and free performances planned in the lobby, which will be open to the public daily.

Yet the center has confronted questions about its impact on the community and cultural scene.

When activists pressed this year to increase affordable housing in a planned skyscraper elsewhere at the trade center, their campaign argued that too much redevelopment money has gone to lavish, nonresidential buildings while many New Yorkers have been priced out of the area. Its median household income and median rent are about double the citywide average.

“The performing arts center is kind of an amenity for a luxury neighborhood that they built,” said Todd Fine, who runs a advocacy business for historical preservation in lower Manhattan. He said the facility needs “to prove that the public is going to benefit.”

Many lower Manhattan arts groups struggled after 9/11, and an early conceptual blueprint for redevelopment called for “strengthening existing cultural institutions” while developing new ones. Early on, the arts center was to house three established groups — two theaters and a visual arts museum — plus a new museum celebrating freedom. Those plans then changed, though the 9/11 Museum took shape in a separate space underground.

Rauch says the Perelman center is committed to collaborating with local arts groups. The head of the Lower Manhattan Cultural Council, an advocacy organization, believes the facility will foster an arts-district ambiance that stands to draw attention to local groups, not compete with them.

“It’s a huge statement to have such a beautiful building dedicated to theater on that sacred ground,” said council CEO Craig Peterson.

On a recent day, James Giaccone pointed out the arts center to bystanders from the edge of one of the 9/11 Memorial’s waterfall pools. That edge bears the name of his brother Joseph Giaccone, a 43-year-old finance executive, father of two and husband.

James Giaccone, a volunteer with Sept. 11-related organizations including Tuesday’s Children, initially was wary of the political controversies surrounding early plans for the arts space.

Then he came to see it as a step forward for the trade center and on a personal level, an embrace of living life fully. His and his brother’s families love going to the theater.

“So I think he would appreciate it,” Giaccone said.

Join us at the Coins2Day Workplace Innovation Summit May 19–20, 2026, in Atlanta. The next era of workplace innovation is here—and the old playbook is being rewritten. At this exclusive, high-energy event, the world’s most innovative leaders will convene to explore how AI, humanity, and strategy converge to redefine, again, the future of work. Register now.
About the Authors
By Jennifer Peltz
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon

Latest in Success

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Coins2Day Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Coins2Day Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Coins2Day Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Coins2Day Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Coins2Day Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Coins2Day Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Coins2Day Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Coins2Day Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Coins2Day Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Coins2Day Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Coins2Day Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Coins2Day Editors
October 20, 2025
Rankings
  • 100 Best Companies
  • Coins2Day 500
  • Global 500
  • Coins2Day 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Leadership
  • Success
  • Tech
  • Asia
  • Europe
  • Environment
  • Coins2Day Crypto
  • Health
  • Retail
  • Lifestyle
  • Politics
  • Newsletters
  • Magazine
  • Features
  • Commentary
  • Mpw
  • CEO Initiative
  • Conferences
  • Personal Finance
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Coins2Day Brand Studio
  • Coins2Day Analytics
  • Coins2Day Conferences
  • Business Development
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Coins2Day
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Most Popular

placeholder alt text
North America
'I meant what I said in Davos': Carney says he really is planning a Canada split with the U.S. along with 12 new trade deals
By Rob Gillies and The Associated PressJanuary 28, 2026
11 hours ago
placeholder alt text
Commentary
Yes, you're getting a bigger tax refund. Your kids won't thank you for the $3 trillion it's adding to the deficit
By Daniel BunnJanuary 26, 2026
3 days ago
placeholder alt text
C-Suite
Coins2Day 500 CEOs are no longer giving employees an A for effort. Now they want proof of impact
By Claire ZillmanJanuary 28, 2026
18 hours ago
placeholder alt text
Personal Finance
Current price of silver as of Tuesday, January 27, 2026
By Joseph HostetlerJanuary 27, 2026
1 day ago
placeholder alt text
Real Estate
Ryan Serhant thinks the American Dream was just a 'slogan created by banks,' but it was really about FDR, the Great Depression, and an economic crisis
By Sydney Lake and Nick LichtenbergJanuary 26, 2026
2 days ago
placeholder alt text
Success
As AI wipes out desk jobs, Citigroup CEO Jane Fraser says the company is training 175,000 employees to ‘reinvent themselves’ before their roles change forever
By Emma BurleighJanuary 27, 2026
1 day ago

© 2026 Coins2Day Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Coins2Day Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.


Latest in Success

Lebron James holds the U.S. flag and waves on a boat.
SuccessOlympics
Every U.S. Olympian is going home with $200,000, whether they medal or not, thanks to a billionaire’s $100 million gift
By Jacqueline MunisJanuary 28, 2026
4 hours ago
C-SuiteCEO salaries and executive compensation
Here’s who topped the Coins2Day 500 in CEO pay last year—from Goldman’s David Solomon to Disney’s Bob Iger
By Marco Quiroz-GutierrezJanuary 28, 2026
5 hours ago
belichick
CommentarySports
Football snubs Bill Belichick, one of its greatest ever coaches—showing how his unapologetic leadership style came with a cost
By Nick LichtenbergJanuary 28, 2026
7 hours ago
beast
Personal FinanceSocial Media
MrBeast has figured out his next ‘transformative media channel’: 2.5 million fortune cookies with messages tied to his TV show
By Nick LichtenbergJanuary 28, 2026
8 hours ago
Worried baby boomer worker
SuccessCareers
As AI automates roles and companies pull back hiring, Americans hit rock-bottom confidence in landing a job—and baby boomers fear they’re locked out
By Emma BurleighJanuary 28, 2026
10 hours ago
Mark Cuban
SuccessCareer Advice
Billionaire Mark Cuban spends hours reading 1,000 emails a day on 3 devices—yet he’s telling Gen Z to shut their phones, get outside, and have more fun
By Preston ForeJanuary 28, 2026
10 hours ago