Less than 2 weeks after the pre-construction phase was complete, the Tateuchi Foundation is gifting $25 million towards the creation of what has long been known as Performing Arts Center Eastside (PACE). With the generous donation also come the naming rights of the performing arts center, which will now be known as the Tateuchi Center.
The project has now raised $60 million of the $160 million goal. Fundraising hasn’t come as easily as organizers had once thought. The hope is with this large contribution that other donors will now be encouraged to donate as well. The 5-story, 135,000 square-foot Tateuchi Center is planned to break ground in the summer of 2011, which would put the project on track to open in the first half of 2014.
According to the Seattle Times the $25 million donation ranks among the biggest gifts to an art organization in the area, matching the $25 million donation to the Seattle Art Museum from the Bill & Melinda Gates Foundation and surpassing the $20 million the McCaw family donated to McCaw Hall at Seattle Center.
