The Lower Manhattan Development Corporation has announced that it has released $50 million in funds to build the Ground Zero Arts Center, the long-planned cultural venue that has been the subject of fierce debate and lengthy delays. Backed by the new funding, work on the center's foundation is set to begin next quarter, though construction on the actual building may not begin for years. A temporary rail station currently resides on a portion of the land that the Frank Gehry-designed center is set to use. Since its permanent replacement, created by Santiago Calatrava, may not be completed until 2014, construction teams will have to wait until then to finish work on the building. At that point, though, critics argue that construction costs could be even larger than the project's current $500 million price tag.

The eventual 1000-seat arts center would be run by the Joyce Theater, which would host regular dance programming and oversee a rehearsal facility. Some critics of the plan have suggested that the building be moved to the site of the former Deutsche Bank building, which would lower costs to $300 million and allow construction on the building to begin by the end of the year.

Despite the potentially enormous costs and the possibility of major delays, city officials and developers behind the project have expressed a commitment to moving forward with the building as planned. Kate Levin, the city's cultural affairs commissioner, told Crain's, "Our goal is to realize the original master plan, which locates the cultural center at the heart of the site. "The performing arts center is key to the area's revitalization."