One of the cornerstones of the Avenue of the Arts, the Arts Bank was a gift of the William Penn Foundation, which realized that there wasn't enough quality, affordable performance space in Center City. The 230-seat theater (a former bank, of course) is owned and operated by the nearby University of the Arts and serves a large, diverse constituency. The stage has a sprung (bouncy) wood floor and state-of-the-art computerized lighting and sound. This is the place for excellent, inexpensive student dance and theater.