Congratulations to CounterPulse on achieving a major milestone—finalizing the $7 million acquisition of its San Francisco venue at 80 Turk Street. San Francisco Business Times is calling CounterPulse’s purchase “…the outcome of a decade-long creative financing partnership that could serve as a model for arts groups to control their destiny.” This moment is the culmination of a visionary idea and a cross-sector collaboration.
“We are an example of how communities can benefit if the arts are equitably resourced in community development initiatives.”Julie Phelps, CounterPulse Executive Director
In 2012, San Francisco artists and arts organizations were facing what has become an ongoing affordability crisis due to the Bay Area’s real estate boom. In search of a long-term solution, the Kenneth Rainin Foundation partnered with Community Vision to design an innovative model for securing affordable spaces for arts and culture organizations. With seed funding from the Kenneth Rainin Foundation, the Community Arts Stabilization Trust (CAST) was established in 2013 and deployed this pioneering model to steward and secure permanent spaces for arts and culture organizations for generations to come. At that time, Shelley Trott, then Senior Program Officer for the Arts (now Chief Program Officer) at the Rainin Foundation, said, “CAST represents the culmination of many talented people working together and investing their time and expertise to bring this idea to life.”
Facing certain displacement, CounterPulse stepped in to pilot this creative solution with CAST. For the past ten years, CounterPulse has paid below-market lease rates for their space while raising funds. They recently completed a successful multi-year capital campaign to purchase their building. CounterPulse is proof that this new national model of sustainability for the arts works.
“Our goal is to create permanent spaces for arts and culture to endure, so to see CounterPulse accomplish what they have these last seven years and reach this moment is thrilling.”Moy Eng, Community Arts Stabilization Trust CEO
This is a pivotal moment in CounterPulse’s history and we’re so proud to play a role in it. Our hope is that CounterPulse’s success and its partnership with CAST will inspire arts and culture organizations in cities throughout the world, as it has in London, Seattle, Austin, Vancouver, Sydney and others.
Congratulations to Julie Phelps, Artistic & Executive Director of CounterPulse, the CounterPulse leadership and their network of supporters!
- Learn more about CounterPulse’s purchase and CAST
- See how the Rainin Foundation codified the Rainin Arts Real Estate Strategy
- Read the article by 48 Hills, “CounterPulse closes in on that most San Franciscan of dreams: a permanent home”
- Read more about how it all came together for CounterPulse in the San Francisco Business Times (requires subscription)