NEW YORK (CBSNewYork) – Manhattan’s newest art center, “The Shed,” officially opens to the public Friday.

The $475 million, 20,000-square-foot space can be found in the new Bloomberg building, where the High Line meets Hudson Yards.

“The Shed will have it all,” Mayor Bill de Blasio said during the ribbon cutting Monday. “Theater, music, dance, film, galleries, performance space – you name it, it will be here.”

MORE: ‘The Shed Will Have It All:’ Ribbon Cutting Held For New York City’s Newest Art Center

The futuristic, eight-level structure features an indoor venue for shows and exhibitions. It also has a retractable roof that, when rolled in, transforms the space into an outdoor venue.

Unlike everything else in Hudson Yards, which is privatized, The Shed lies on city land and operates as a not-for-profit, with affordable ticket prices offered for each show.

“The Shed will be accessible, The Shed will be affordable. Performances will have ticket prices at all levels, starting at $10,” de Blasio said.

The Shed opens Friday with “Soundtrack of America,” a five-night concert series celebrating the impact of African American music on contemporary culture. For ticket information, click here.