Artist's conception of Park Square's proposed 200-seat stage.

Park Square Theatre has reached 85 percent of its $4.2 million campaign designed to add a new theater, refurbish the current auditorium and build capital reserves.

"As soon as we reach the last $600,000 in gifts and pledges, we are ready to go," said Artistic Director Richard Cook in a statement.

The marquee feature of the initiative is a 200-seat thrust stage to be built in the basement of the Hamm Building. That theater is on target to open in fall, 2013 and will increase Park Square's programming to 18 shows per season, from ten. To put the significance in perspective, a 200-seat theater is equivalent to the size of the Mixed Blood and the Guthrie studio; The Jungle has 140 seats.

Already, the campaign has provided a $500,000 spit polish of the 350-seat mainstage auditorium — consisting of new seats and carpet.