The Time For Growth Is Now...
Building on Recent Success....
Over the last five years, with a new professional management team and an enthusiastic, growing Board of Directors, the Palace Performing Arts Center Inc. has made great strides in advancing our organization's programming and impact on the Capital Region.
- From 2011 to 2016, the number of performances and community events hosted in the Palace Theatre has more than doubled, with over 160 events hosted this season.
- The financial position of PPAC, Inc. has been strong over the same period, with break-even or better performance in each of the last five fiscal years.
- PPAC has made significant investments in human resources and technology to enhance the organization's fundraising efforts.
PPAC has invested in the theatre to maintain this historic structure, make it more sustainable, and prepare it for growth. Recent repairs, maintenance and equipment purchases all ensure that the venue can continue to host world-class acts while plans are made for expansion.
An Environment for Growth in Albany....
The proposed vision for the Palace is just one piece of an on-going renaissance in downtown Albany. With many commercial and residential development projects on the horizon, a fully-realized performing arts center for the Capital City will serve as a significant catalyst for success and continued growth.
- In the next year, the City of Albany will see the opening of the new Capital Center convention facility. A busy, fully-realized performing arts center would be a tremendous asset that would appeal to convention planners and attract a diverse series of major convention events to our city.
- A significant investment is being made in the Times Union Center arena. The Palace and Times Union Center work as strong partners in our downtown community, and the success of each venue is vital for creating a true arts & entertainment district in Albany.
- Albany's warehouse district has seen a revitalization, with many restaurants, bars and residential units being developed and planned in recent years. Additional programming at the Palace is sure to attract many more patrons to these establishments and drive young professionals and other citizens to take advantage of new residential opportunities.
- Recent residential development in the downtown community has been strong. To date, 790 market-rate residential units have been created with another 111 units coming online this summer, and the conversion of 230 residential units currently in development. The vision proposed by PPAC would have a positive impact on the quality of life downtown, and help to catalyze continued residential development.