New 42nd Street, originally formed in 1990 to oversee the redevelopment of seven neglected and historic theaters on 42nd Street between 7th and 8th Ave, was given 99-year leases on the block’s seven historic theaters and has since transformed into one of New York City’s most prominent and visionary cultural nonprofits. It has repurposed these venues, starting with the Victory Theatre, now the New Victory, the city’s first theater dedicated to kids and families, with the mission to make extraordinary performing arts an integral part of American youths. Through the New Victory Theater and New 42 Studios, this project provides invaluable arts engagement and resources to young people, artists, and educators. New 42 Studios, including The Duke on 42nd Street, supports the development of new work by hosting over 1,000 nonprofit dance, theater, and opera companies, and over 800 Broadway musicals and plays. The New Victory Theater has introduced 2 million New Yorkers to international performances and brings live performing arts to 40,000 NYC school kids each year. Today, New 42nd Street continues to support the city’s efforts to maintain West 42nd Street as a vibrant destination for both locals and visitors, ensuring the ongoing vitality of America’s most iconic theater district. Additionally, New 42nd Street provides significant public goods through arts education and a place to develop new performing artworks. Its social impact includes the reduction of crime and the maintenance of safety in the region. The organization has contributed to economic growth and acts as an anchor, helping to bring in new family-oriented businesses, retail shops, and experiential spaces, thus promoting complete communities. New 42nd Street has elevated the entire region of 42nd Street, ensuring its continued cultural and economic vitality. With its 99-year lease, it maintains land control and serves as a vital tenant, reinforcing its role in the cultural and economic landscape of the area.