After the old venues were demolished, architects
Thomas W. Lamb and
Eugene De Rosa designed a new building on the site which included a new Criterion Theatre cinema, the International Casino nightclub, and retail space. The nightclub closed after only two years, and the space became a
Bond Clothing Stores location until 1977. It was then reconverted to a discotheque,
Bond International Casino, which closed in 1986. The cinema was multiplexed in 1980. In 1988, a portion of the former nightclub space was converted was to a pair of live theater spaces called the Criterion Center. In 1991, the spaces were leased to
Roundabout Theatre Company, a prominent non-profit theater company, which used the larger Stage Right space as a small
Tony Award-eligible theater while the smaller second theater became the first version of the
Laura Pels Theatre. Notable productions during Roundabout's tenure at the Criterion include the 1993 revival of
Eugene O'Neill's
Anna Christie (featuring
Liam Neeson and
Natasha Richardson in their
Broadway debuts), the 1995 revival of
Stephen Sondheim's
Company, and the 1997 revival of
1776. The multilevel store featured a 60-foot in-store Ferris Wheel and an animatronic T-rex among its attractions. Upon expiration of its lease, Toys "R" Us closed on December 30, 2015. The decision was attributed primarily to a rise in property values in Times Square that would increase its rent from $12 million to upwards of $42 million a year. In June 2015,
Gap Inc. signed a lease for the property and expected to open stores for its Gap and
Old Navy brands in 2017. The two stores account for 62,000 square feet of the 100,000-square-foot store. In July 2016, during the construction of the Gap and Old Navy flagship store, remnants of the original Olympia were found under the floors. The building, known officially as the Bow Tie Building, remains owned by Bow Tie Partners, the real estate holding company tied to
Bow Tie Cinemas, the chain operated by the Moss family. ==Cherry Blossom Grove==