Opening in 1997 as the Ford Center for the Performing Arts, the Lyric Theatre occupies the site of two previous theatres on 42nd Street, the Lyric and the Apollo. Although the theatre was fully renovated to a state-of-the-art degree in 1996, the historical significance and beauty of both its predecessors has been maintained, in accordance with the specially written guidelines for development by The New 42nd Street to “promote the preservation, restoration and reconstruction of the historically significant elements of each theatre.