CenterStage Foundation today announced a $10 million contribution from Altria as part of a Naming Rights agreement for the Landmark Theater.
The announcement of this leadership gift to the Foundation’s Landmark and Legacies Capital and Endowment Campaign was made this morning by CenterStage Executive Director Richard M. Parison, Jr., Altria Chairman and CEO and Chairman Martin J. Barrington, and Richmond Mayor Dwight C. Jones in the lobby of the soon-to-be renamed Altria Theater in Richmond’s Fan District.
The renovations approved by City Council to the theater will include significant safety and infrastructure improvements, including the fire alarm and suppression system, plumbing and electrical. The Landmark Theater’s acoustics systems and several patron-centered amenities will also receive a much-needed upgrade.
“We are fortunate to have a partner like Altria which understands the power of the arts and the impact they as a corporate citizen can make on our community,” said Richard M. Parison, Jr., Executive Director of Richmond CenterStage. “Altria has been a great supporter of CenterStage and our artistic programs since our inception. We are very grateful for its continued commitment to supporting the performing arts at our CenterStage venues and in the City of Richmond.”
“Together, Altria and Philip Morris USA have a long history in Richmond and in supporting the arts and projects intended to make our communities stronger,” said Barrington. “We know from our experience that a thriving arts and cultural scene helps make cities more vibrant, engaging and enjoyable for residents and visitors. The Landmark Theater project provides us with a unique opportunity to help restore an iconic venue that will have a positive impact on Richmond and will benefit our employees and our neighbors for generations to come.”
“Naming rights were a key component of our overall renovation strategy for the historic Landmark Theater,” said Mayor Jones. “Today, Altria has added tremendously to the success of our strategy and we welcome this investment in Richmond that will contribute to our long-term economic success and cultural growth.”
The Landmark and Legacies Capital and Endowment Campaign is seeking to not only restore and renovate the Landmark Theater, but to grow the CenterStage Endowment through contributions from local, state, and national sources.
The purpose of the Endowment is to cement the cultural legacy of CenterStage Foundation by providing greater funding stability by augmenting annual giving and helping the performing arts center fulfill its mission to foster a lifetime engagement in the performing arts through dynamic artistic programming, transformational educational outreach and collaborative community partnerships.
Altria’s $10 million contribution is the first leadership gift of this campaign and will serve as the cornerstone of the renovation of Richmond’s largest theater. The theater will be renamed the Altria Theater in 2013 following the completion of the first phase of the renovation.