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MEMPHIS, Tenn. — A ribbon-cutting event was held Wednesday afternoon for the brand-new Halloran Centre for Performing Arts & Education.

The center is the largest capital project in the history of Memphis Development Foundation’s history. The nonprofit foundation also heads the Orpheum Theatre.

“We have waited four long years for this day,” said Pat Halloran, the president and CEO of the MDF and the center’s namesake. “Everyone involved in this project has worked very hard to make the new Centre a reality.”

The $14.5 million facility features theater seating, classroom space, a cutting-edge audio-visual lab and more.

The center has been in development since 2009, when the need for more classroom space grew after the Orpheum’s education programs reached capacity.

“Today is a great occasion for the school children and art lovers of Memphis and the Mid-South,” MDF Board Chairman Andy Taylor said.

With this big accomplishment in the books, Halloran will retire at the end of this year after more than three decades on the job.