Plans afoot to renovate, reopen Times Square Theater as a special purpose venue
NEW YORK, NY — Reportedly, plans have been drawn up that would convert the long-closed Times Square Theater into a venue to house a multimedia attraction tentatively called “Broadway 4D,” described in news reports as a Las Vegas-style review of Broadway’s history up to the present. Originally built as a legitimate theater, the Times Square later operated as a cinema for many years, but has been closed for nearly twenty.
Financial backing, sources said, is from Beverly Hills, Calif.-based Kr Capital Partners. Although the signing of a long-term lease was described as “imminent” by one source, it might be premature to line up to buy tickets. “There are contingencies,” a real estate source told us. “This thing is very, very complicated.”
All parties involved either declined to comment or failed to return calls. They would rather wait to present the gift-wrapped deal with names of presumably A-list show business types on the creative team, so it doesn’t sound ridiculous — i.e., an out-of-town version of actual Broadway shows in a district full of real ones.
There is more in the New York Post.