NEW YORK, NY (CelebrityAccess) — M&T Bank has signed a sponsorship pact that will see them cast as the ‘Founding Bank’ of the major entertainment venue The Shed, which is currently preparing to open in midtown Manhattan.
Under the terms of the agreement, M&T will be the exclusive financial services sponsor for the venue and help to underwrite The Shed’s live performance commissions. M&T has played a role in the construction of the venue, providing bridge financing that helped fund its design, planning, construction, and pre-open operations.
“Thrilling is the word to describe seeing The Shed become a reality, as we have been involved with the project since Day One, when it was just a bold idea,” said M&T’s Regional President for New York City Blair Ridder. “We pride ourselves on providing a tailored approach to meeting the financial needs of our clients, and we are delighted that we could work hand-in-hand with The Shed to customize the financing needed to make their vision come to life. We look forward to supporting and experiencing the many inspiring and path-breaking new works of art that are sure to come.”
Located in midtown on Manhattan’s west side near the High Line, The Shed is 200,000-square-foot $550 million project housed in a newly built flexible building designed by Diller Scofidio + Renfro, Lead Architect, and Rockwell Group, Collaborating Architect.
he Shed can be customized to present art across all disciplines and “aims to commission innovative works by risk-taking artists of all genres, striving to be a new model for how culture is created and consumed in the 21st century” per the Wall Street Journal.
The facility includes the Bloomberg Building, the The McCourt, which is formed when a movable outer shell is deployed over the adjoining plaza to create a 1,200-capacity 17,000-square-foot light-, sound-, and temperature-controlled hall for large-scale performances, installations, and events; and The Theater, a 500-capacity performance space for more intimate performances and events.
The Shed will debut on April 5th.