The Off-Broadway theater's current home at 555 West 42nd Street has one auditorium, which seats 160. The new space, to be designed by Frank Gehry down the block at 42nd Street and 10th Avenue, will give the company room for three auditoriums with the capacity to seat up to about 700 people in all.

The nonprofit theater company's lease on its current space at 42nd Street between 10th and 11th avenues ends in 2011. It had been looking for a new home for five years; among the scenarios that fell through was a plan to move to the former World Trade Center site. Regarding settling on a new home in the same neighborhood,  the company's founder, James Houghton, told the New York Times, "sometimes you end up right where you should."

Signature Theatre Company was founded in 1991 with a mission to "honor and celebrate the playwright" in part by showcasing a playwright's body of work over the course of a season.

The 2008-09 Signature season, opening November 11, features the Negro Ensemble Company. Tickets are for sale online or at the box office. Upcoming seasons will present the work of Suzan-Lori Parks and Tony Kushner.

Read more details about the new theater space in the New York Times.