Making A Big Bet - Kenneth Rainin Foundation

Making A Big Bet

The pink CounterPulse building in San Francisco sandwiched between two beige buildings. CounterPulse Building, 80 Turk Street, San Francisco. Photo credit: Keegan Marling
CounterPulse Building, 80 Turk Street, San Francisco. Photo credit: Keegan Marling

The real estate boom is pushing arts and cultural organizations out of San Francisco. The Foundation partners with the Northern California Community Loan Fund (now Community Vision) on a solution to help secure affordable space. The outcome is the Community Arts Stabilization Trust (CAST), the first of its kind real estate holding company for the cultural sector. The Foundation seeds CAST with a five-year, $5 million grant. CAST purchases buildings for the Luggage Store Gallery and CounterPulse, which are at risk of displacement.