ASB Community Trust has agreed to contribute $5 million to the new theatre proposed for the Wynyard Quarter on Auckland's waterfront.
The donation will take the total pledged to the Auckland Theatre Company’s proposed theatre to $21.7m.
However, the building is not yet assured because Auckland councillors have held several robust discussions on whether they should continue supporting the expensive project proposed to be next door to the ASB Bank headquarters now being built.
Earlier this year the council agreed to wait until it saw whether further funding would come in.
The theatre company is due to report back to the council this month.
The total amount needed to build the new 600-seat venue is $35.1m.
“We are thrilled to have ASB Community Trust’s support for this visionary project, which will provide Auckland residents and visitors with a world-class theatre going experience for generations to come,” Auckland Theatre Company general manager Lester McGrath said.
ASB Community Trust chairman Ken Whitney said the trust was inspired by what has been achieved by working in partnership with other funders.
“Large-scale projects such as this inevitably require a number of funding partners to work together collaboratively to realise a shared vision.
"In a relatively short time this approach has endowed our city with a number of iconic buildings such as the magnificently refurbished art gallery, Q Theatre, the Eden Park stadium redevelopment, the extensions to the War Memorial Museum, Motat and the Auckland Zoo, to name a few.”
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