In December 2012, Goldman Sachs committed over $80 million of capital to finance the rehabilitation of Loew’s Kings Theatre. Built in 1929, the historic, 83,000 square foot facility was restored and expanded into a modern, multi-use community and live performance venue on Flatbush Avenue in Brooklyn.
|Loew's Kings Theatre Before|
The project had been on New York City’s redevelopment agenda since 2006 and is expected to stimulate commercial activity along the Flatbush Avenue commercial corridor in Central Brooklyn, while creating 300 construction jobs and 70 permanent jobs.
Loew’s is now the largest indoor theater in Brooklyn, and serves as a landmark and source of civic pride in a transitioning community. Its presence will dramatically alter the cultural landscape of Central Brooklyn and the Greater New York City area.
The project demonstrates Goldman Sachs’ commitment to public-private partnerships that help transform underserved urban communities. Our partners in the Loew’s project included: ACE Theatrical Group, a private theatrical facility development and management company; the New York City Economic Development Corporation; the National Development Council, a national non-profit community and economic development organization; the Dormitory Authority of the State of New York; and the National Community Fund I, LLC, a community development entity.
|Loew's Kings Theatre After|