Securing affordable space is one of the biggest challenges facing nonprofit organizations. In 2013, the Rainin Foundation partnered with Community Vision to launch the Community Arts Stabilization Trust (CAST) as a long-term solution to the Bay Area’s real estate challenges for arts and cultural organizations. CAST is a community-centered real estate organization that works to secure and steward affordable spaces, ensuring artists and cultural workers can stay anchored where they create.
The Foundation seeded CAST with a $5 million grant. In 2017, we awarded another $3 million grant to support its expansion into Oakland and its continued focus in San Francisco. In 2020, we awarded another $3 million grant to advance its artist-led innovations to develop permanent affordable workspace and housing to retain artists in the Bay Area. And in 2023, we celebrated a decade of CAST’s success.
CAST exemplifies the Rainin Foundation’s leadership and smart risk-taking toward retaining strong, vibrant and diverse arts communities.
A Decade Of CAST: By The Numbers
Over the past ten years, CAST has:
- Raised nearly $50 million in assets
- Acquired four buildings that they are stewarding as cultural centers
- Secured five more projects in the development pipeline
Over the next several years, CAST will:
- Have $200 million in assets
- Contribute 250,000 square feet of permanent, affordable arts real estate in the San Francisco Bay Area