A high-rise residential tower that the Related Companies is about to start building on 42nd Street may house two theaters and space for a classical orchestra, according to two community leaders who have seen a preliminary plan for the development.

The Orchestra of St. Luke’s has been a top contender to be anchor tenant for the orchestra space contemplated for the building at 440 W. 42nd St., on which construction is scheduled to begin next month. That space would consist of offices and practice rooms. To build out the orchestra space would cost the tenant between $15 million and $20 million, according to one of the community leaders, who spoke on condition of anonymity.

Two of the nine small theater spaces being demolished as part of the development, the John Houseman and the Douglas Fairbanks, will also be rebuilt on the third floor of the 58-to 62-story tower, according to the preliminary plan.

“I know they are considering this, but no plans have been finalized and nothing is certain,” the producer and head of the two off-Broadway theaters, Eric Krebs, told The New York Sun. He was in the process of packing up the two theaters yesterday in advance of his May 31 eviction date.

A handful of other small theaters, including the Tank and the Emerging Artists Theater Company, have also been evicted to make way for the development.

The Related Companies – which is run by a friend of Deputy Mayor Daniel Doctoroff, Stephen Ross – was one of six developers that offered to join the New York Jets in the football team’s bid for air rights at the Hudson Rail Yards.

The Metropolitan Transportation Authority sold the rights to the Jets, which plans to build a stadium at the site, but decided to retain the excess air rights.

The tower on West 42nd Street is being developed by Related as a joint venture with Twining Properties and MacFarlane Partners.

Last year the joint venture, known as TRM Associates, paid $107 million for the right to lease the city-owned property. The seller was the former leaseholder, Theater Row Phase II, which was in bankruptcy and owed the city more than $14 million.

“The theater is still being defined,” the president of Twining Properties, Alex Twining, said last week.

The Related Companies and the Orchestra of St. Luke’s did not return calls seeking comment.

The building overlaps the site of a new station for the planned extension of the no. 7 subway from Times Square. The developers have agreed to an easement, which means the building would be constructed so that the subway extension would not be blocked.

The 800-unit development will have a podium base that will rise to 85 feet. That would accommodate two floors of retail space and a third floor with roughly 50,000 square feet for the theaters and orchestra space, the head of the land use committee at Community Board 4, Anna Levin, said. There will also be two levels of below-grade parking with 300 spaces for cars.

The apartments in the bottom half of the building will be rentals, consisting of 80% market-rate and 20% “affordable.” Market-rate condominium units will be built on the upper floors, officials said.

Ms. Levin and some other members of Community Board 4, which represents the area, met with the Related Companies on May 5 to view plans for the development. The Related Companies wants a “theater bonus” for the development.

As part of the 59-square-block Hudson Yards rezoning, which was passed by the City Council in January, developers can build somewhat larger buildings along 42nd Street if they include a theater in the project. The TRM project is the first in the area since the rezoning was approved.

The language of the theater bonus requires a “legitimate theater,” and the city is considering changing that to “live performance space,” so that space for an orchestra would also earn the bonus.

“The language is being looked at for consistency,” a spokeswoman for the Department of City Planning, Rachaele Raynoff, said. “It was anticipated the bonus would be used for performing arts of all kinds, so a clarification is being contemplated.” The change would be made under what is known as a “follow-up corrective action,” which must be approved by the Department of City Planning and the City Council.

Ms. Levin said she would welcome an orchestra in the space but is concerned that if the language of the theater bonus is changed, it could allow developers to lease the space to excessively commercial enterprises.

“Changing the language will give Related more flexibility, and they could end up allowing a House of Blues or some other club, which is absolutely not acceptable,” Ms. Levin said.

No deal with arts groups has been signed, and the Related Companies has told sources that other potential anchor tenants besides the Orchestra of St. Luke’s are being considered as well.