Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MINNEAPOLIS-A proposed new home for the Guthrie Theater is being put off–but not scrapped—after Minnesota Gov. Jesse Ventura recently vetoed $24 million in state funding. Guthrie officials had hoped to break ground on the $125-million, 225,000-sf complex on the Mississippi River this September and open in spring of 2005, but now it appears that it won’t open until fall 2005 at the earliest.

The Guthrie’s board of directors unanimously reaffirmed its support for the proposed three-stage facility and agreed to keep working with French architect Jean Nouvel and the existing design team.

Development will continue up to the point where blueprints for the new facility are drawn, a process that will stretch into the end of the year.

No construction will begin until–and unless—the Guthrie receives the state funding theater officials say is needed for the project to be completed.

Guthrie officials hope to convince the state to pass a bonding bill next year that would include the theater, which would put the project just six months behind original projections.

Given that Ventura, who has yet to announce if he is running for re-election this fall, wielded a cleaver in line-item vetoing some $357 million worth of construction projects and other capital-improvements, some state legislators seem open to considering a bonding bill in 2003, even though such bills are traditionally only considered every other year.

The theater’s board plans to hold to its $125-million budget for the project.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information

GlobeSt. NET LEASE Awards 2021Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.