M&T Bank Corporation (NYSE: MTB)("M&T") is a financial holding company headquartered in Buffalo, New York. Credit: Diller Scofidio + Renfro, Lead Architect, and Rockwell Group, Collaborating Architect. Images and renderings of The Shed are here. The Shed can be customized to present art across all disciplines and "aims to commission innovative works by risk-taking artists of all genres, striving to be a new model for how culture is created and consumed in the 21st century" ( Wall Street Journal). Opening on April 5, 2019, the $550 million project is housed in a newly built flexible building designed by Diller Scofidio + Renfro, Lead Architect, and Rockwell Group, Collaborating Architect. The Shed, which has been called "one of the most significant additions to New York City's cultural landscape in decades" ( New York Times), is a 200,000-square-foot arts center located on the West Side of Manhattan near the High Line. Artistic sponsorships are a great way for us to give back to our communities and the clients we serve," said Wilmington Trust Executive Vice President and Head of Wealth and Institutional Services, Doris Meister. The arts are a driving force for us and for many of those who trust us in managing their wealth and structuring their charitable support for these great institutions. "Supporting The Shed is important to us and to our clients.
The Delaware-based Wilmington Trust serves clients globally and in all 50 states. Through Wilmington Trust, the bank is also a leading provider of wealth planning, investment management, trust and estate services for private and institutional clients. Recent commercial projects M&T provided financing for include the mixed-use redevelopment of the Domino Sugar Factory in Williamsburg by Two Trees Management, Extell Development Company's Brooklyn Point residential tower at City Point and Steiner NYC's development of Admirals Row in the Brooklyn Navy Yard. As of December 31, 2018, M&T had New York City area commercial real estate loans of more than $8.7 billion. M&T has long been one of the New York City area's leading commercial real estate lenders. "They have been a nimble lender since we began our project in 2014 in their role as construction underwriter, and the continued support of M&T and its wealth management division, Wilmington Trust, has been a huge asset as we publicly debut this groundbreaking cultural institution." "Our partnership with M&T has been a thoughtful and creative endeavor," said the Chairman of The Shed's Board of Directors Daniel L.
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The Bank is the presenting sponsor of New Jersey Performing Arts Center Dance Series, presenter of free First Fridays at the Albright-Knox Art Gallery in Buffalo, sponsor of Long Island Winterfest and a foundational supporter of many other cultural events and institutions across its communities. This support of The Shed is representative of M&T's long-standing commitment to culture and the arts. We look forward to supporting and experiencing the many inspiring and path-breaking new works of art that are sure to come." "We pride ourselves on providing a tailored approach to meeting the financial needs of our clients, and we are delighted that we could work hand-in-hand with The Shed to customize the financing needed to make their vision come to life. "Thrilling is the word to describe seeing The Shed become a reality, as we have been involved with the project since Day One, when it was just a bold idea," said M&T's Regional President for New York City Blair Ridder.
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