Perhaps you’ve heard whispered rumors floating around, but it is finally time that we can make some big news public and official:
WHAT: HUGE THEATER IS BUYING A BUILDING!
WHERE: The one that currently houses Art Materials at 2728 Lyndale.
We’ll be closing on the building sale in September 2019. Under the terms of that agreement, Art Materials may rent the building back from us for up to 15 months. So hopefully, we’ll be able to occupy the space by the end of 2020.
Two big reasons:
1. With the phenomenal growth of our community over the last 8 years, we’re busting at the seams, short on space for classes, audience, storage, and general operations. The new building will more than triple our square footage, providing room for a bigger theater, more rehearsal/classrooms, a larger lobby, a proper office, and more restrooms. This will allow us to continue supporting our growing, diversifying community the way we should.
2. Owning a building instead of renting will give us a “forever home” that we control, and assure that the arts retain some ownership in the LynLake neighborhood, which is being eaten up by commercial development.
Two more big reasons:
1. Because the opportunity to buy this building — at a great price — came up, and wasn’t going to wait.
2. Our current landlord supports white supremacist causes, and that’s antithetical to our values. We are eager to cease our business relationship with him as quickly as feasibly possible.
We are so glad you asked! We cannot purchase this building without raising a lot of money. So we’re launching a capital campaign. We need to raise at least $640,000 by September 2019 as a down payment on the building… we can’t get a loan without it.
Ultimately, our goal is to raise $3.2M over the next few years, which would allow us to own the building free-and-clear.
HOW CAN I HELP?!
Thank you SO MUCH for asking. We need your help in SO many ways.
That’s a whole topic unto itself. Find out more here.