Milestone Moment For Innovative Arts Real Estate Solution - Kenneth Rainin Foundation

Milestone Moment For Innovative Arts Real Estate Solution

CounterPulse's three-story magenta building with light-filled windows is sandwiched between two gray buildings in San Francisco. CounterPulse Building at 80 Turk Street in San Francisco. Photo credit: Cesar Rubio

Community Arts Stabilization Trust (CAST) continues to be a promising example of the Kenneth Rainin Foundation’s leadership and smart risk-taking towards retaining strong, vibrant and diverse arts communities. A recent Fast Company article, “How one arts organization saved itself when Twitter moved in next door,” showcases CAST’s work and exciting news about its first project. In this milestone year, CounterPulse is set to buy its building from CAST, securing a permanent space for the arts. This moment is the culmination of a visionary idea and collaboration that began ten years ago.

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. CounterPulse, which was facing certain displacement, stepped in to help test the model. Since that time they have paid below-market lease rates and launched a capital campaign with the goal of purchasing the building in seven to 10 years. We’re grateful for CounterPulse’s partnership on this major undertaking and their effort and dedication along the way to reaching this pivotal moment.

CAST is one of several Rainin Foundation funded initiatives aimed at helping artists thrive. The Rainin Foundation seeded the creation of CAST with a $5 million grant in 2013 and has continued to support its work in Oakland and San Francisco. Pilot projects in San Francisco have laid the ground for bigger efforts to safeguard space for arts and community. New collaborations are advancing artist- and community-led innovations. In Oakland, CAST is energizing a constellation of real estate ventures to preserve affordable housing and creative spaces and the city’s Black culture.

As the first of its kind real estate holding company for the cultural sector, CAST is now internationally recognized as a proven model for securing permanent, affordable space for the arts. The Rainin Foundation has codified this model as the Rainin Arts Real Estate Strategy. We are thrilled by its success and eagerly anticipate new milestones in creating and securing affordable space for art.

The Rainin Arts Real Estate Strategy is a collaborative strategy that connects resources in the community to the real estate needs of arts and cultural organizations. Learn more.