Florida Studio Theatre receives $4 million gift for Arts Plaza

Florida Studio Theatre has received a challenge gift of $4 million from Ed and Susan Maier to provide funding to build the FST Arts Plaza, a mixed-use building that will include theater space, parking and apartments for short-term and long-term housing of actors.

The Maiers have proposed that their challenge gift be used as a dollar-for-dollar matching grant to create a “circle of friends” to name the Arts Plaza in honor of Dennis and Graci McGillicuddy. All pledges toward the McGillicuddy Circle of Friends received after April 1 will be matched.

The challenge gift serves to help complete Phase 1 of the Arts Plaza project, which includes construction of the eight-story building, parking garage and opening three stories of artist housing. The challenge grant will position Florida Studio Theatre to break ground in December 2024. The completed project is projected at a $57 million investment.

Arts Plaza features include:

• A new mainstage theater to allow for expansion of the Mainstage and Stage III Series.
• Two new cabaret theatres to accommodate growing audience demand for FST’s most popular program.
• Extended-stay studio apartments for visiting guest artists.
• Affordable housing for Sarasota’s year-round arts workers.
• Secure and convenient parking spaces.

The Arts Plaza will be built on property currently owned by Florida Studio Theatre near its current downtown facilities, which will remain.