The Loew's Theatre Corporation's design was created by renowned New York architect John Eberson and was influenced by both Spanish and Moorish baroque architecture.

[3] Eberson was famous for inventing the "atmospheric theatre" design, where the theater's walls resembled an elegant villa or streetscape under a night sky.

Dorothy Pauley Square, a newer four-story building attached to the Carpenter Theatre, contains four venues: Libby S. Gottwald Playhouse, a 200-seat flexible playhouse; Bob & Sally Mooney Hall, a jazz / cabaret space; Showcase Gallery, a reception area and gallery for the visual arts; and the Genworth BrightLights Education Center, home to RPAA's BrightLights Education Intitiatives.

CenterStage officially opened to the public on September 12, 2009, after a large capital campaign, a controversial public-private partnership with the City of Richmond, and a decision to resize the project from a much larger proposed one.

Additionally controversial is the organizational structure of the complex that has SMG Richmond, a for-profit corporation based out of Pennsylvania, operating the venues via a City-appointed Board of local executives.