New York Construction Report staff writer
The historic Apollo Theater is set to undergo its first full-scale renovation in its 91-year history, following the closing of a $23 million New Markets Tax Credit (NMTC) deal facilitated by the New York City Economic Development Corporation (NYCEDC) and its subsidiary, the NYC Neighborhood Capital Corporation (NYCNCC).
Work is being led by Beyer Blinder Belle Architects & Planners, with a support team that includes:
- Theater design and acoustics consultant: Charcoalblue
- Signage and branding consultant: Flyleaf Creative
- General contractor: Consigli Construction (handling the restoration, renovation, and modernization work)
The financing, part of a broader public-private funding package, will support a comprehensive transformation of the legendary performance venue in the heart of Harlem, adding new public amenities, modernizing its infrastructure, and expanding its ability to serve the community through inclusive cultural programming.
“The Apollo Theater is one of New York City’s great cultural institutions, a global brand and the pride of Harlem,” said Deputy Mayor Adolfo Carrión, Jr. “Today’s announcement is another wonderful example of the city’s continued investments in cultural organizations and the physical spaces that house world-class art and performance.”
The $23 million NMTC allocation is expected to support 196 private-sector jobs and 184 full-time construction jobs, while enabling the Apollo Theater to dedicate more of its capital campaign to programming for low-income audiences.
The renovation will include a new café, bar, and retail space, expanded public areas, upgrades to the theater’s iconic façade and marquee, state-of-the-art production systems, HVAC improvements, and modernized restrooms and elevators.
The project is backed by multiple sources of funding. In addition to the NMTC financing, the City of New York has committed more than $20 million through the Department of Cultural Affairs, and Empire State Development has contributed a $10 million grant through the New York Works Economic Development Fund. J.P. Morgan Chase served as the tax credit equity investor.
Michelle Ebanks, president and CEO of the Apollo Theater Foundation, called the investment a “curtain drop in every sense of the word.”
“As we prepare to renovate and reimagine this legacy space, we do so not to erase its history, but to elevate it,” said Ebanks. “To honor the shoulders we stand on, while building a more modernized foundation for those who will come after us.”
NYCNCC, founded in 2014, leverages the federal NMTC program to finance community development projects in underserved New York City neighborhoods. With this deal, the organization has fully deployed all $255 million in tax credits awarded to date, supporting 20 projects and attracting more than $500 million in private-sector investment.
“This is the exact type of project NYCNCC was created to support,” said NYCEDC President & CEO Andrew Kimball. “The Apollo Theater is poised to play an even larger role as a cultural and economic anchor for Harlem, and we’re proud to be part of its next chapter.”
A groundbreaking ceremony was held this week, but no completion date was announced.
