Mayor Unveils Modified Plan For Parcel 5

Mayor Lovely Warren unveiled a modified plan for downtown's Parcel 5.  The theater size is the same but the updated plan calls for a roof-top performance area on the theater and, possibly, an IMAX movie theater inside the building. This is the project Paychex founder Tom Golisano has pledged $25 million to build. The mayor says the project means more than 600 construction jobs and more than 160 permanent jobs when it opens. The city is going to pay another $66,435 to have Cleveland-based DLR Group/Westlake Reed Leskosky, which prepared an earlier feasibility study for the downtown theater, to forecast the financial impact on other arts organizations, how and whether the proposed facility supports other arts groups, how to minimize dark time and engage the surrounding community, and what other cities have done to build an arts endowment that helps all arts organizations. The study should be completed by July 31.  The project will still cost $135 million and would still require  $20 million in state funding.  A 13-story residential tower fills out the remainder of the project and will be financed by developer Bob Morgan.  


 




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