Changing the paradigm to create long-term sustainability
Through the Rainin Arts Real Estate Strategy, organizations gain a permanent asset, protection from escalating rental prices, financial equity, management training, and the organizational capacity to manage debt and real estate. It’s a win-win because it also establishes permanent residences for core nonprofits in transitional neighborhoods, cementing the valuable presence of artists and cultural spaces.
The annual national income generated by performing arts organizations in 2015.More Artists and cultural spaces shape neighborhood identity, encourage social integration, and promote upward mobility, to name only a few of their assets. Over a ten-year period, the 118 metro areas with at least one performing arts organization generated a whopping $60 billion in annual income and more than 500,000 additional knowledge-class jobs—more than 12 percent of all knowledge-class jobs created over that time frame.
Creative businesses “have been crucial to the renaissance Brooklyn has experienced over the past decade.”
President and CEO
Brooklyn Chamber of Commerce
To preserve the diversity and cultural richness that artists bring, cities of the future need to learn how to stop ‘using up’ artists and then pushing them out.
To do this, they first must ensure that artists can be guaranteed permanently affordable live/work space into the future.
Huffington PostMore Mixed-use neighborhoods have proven to provide a host of benefits to residents and communities as a whole. As we recognize the critical components to livable communities, culture comes up more and more. We have an opportunity—as development and progress change our cities and communities—to be intentional about the value of culture and preserve its presence. The Rainin Arts Real Estate Strategy removes the affordability argument for why artists and cultural organizations can’t stay in the heart of our cities.
The amount New York City nonprofit arts organizations generated in 2010.
Full-time employment supported by San Francisco’s arts and culture organizations.
Permanently halting the “space chase” for core arts and cultural organizations.More By and large, small to mid-size nonprofits do not have the capital or expertise to undertake ownership of their facilities. The Rainin Arts Real Estate Strategy allows organizations to essentially buy time through lending them equity at below market interest rates while they aggregate capital and grow their organizational capacity, both of which are permanent assets.