Constellation Theatre Company wants to save its home by buying the Source Theatre building. But the nonprofit that owns it is trying to survive, too.
In August, CulturalDC announced to residents that it planned to put the Source building on the market. In late September into mid-October, before CulturalDC put out the listing, CulturalDC worked with Constellation to give them the chance to make an offer. They also began reaching out to other organizations. The public listing went live in late October 2024, which stated that CulturalDC wanted to identify a buyer by December.
“We are hoping to come to an agreement with them, but as you can imagine, the board wants to ensure our own financial future and sustainability, and therefore has to continue to market the building more broadly in the event that we cannot come to an agreement with Constellation,” Maiselman says.It’s not the first time the space has been in jeopardy. Originally, it was where Source Theatre Company operated for 33 years.
In December 2023, Stockman and Wells met with Maiselman to discuss adjustments to the proposed renovations, so the performing arts and the proposed art gallery could work in tandem, which they felt optimistic about. Then, Maiselman shared that they were no longer going to do the renovations. What CulturalDC thought could be a one- to three-year capital campaign to renovate the building would be a much longer renovation because the DC Commission on Arts and Humanities proposedin February 2024.
CulturalDC has reached out to more than 25 other arts nonprofits and organizations with the hope of Source remaining their space, as well as arts organizations across the East Coast, though no other potential buyers beyond Constellation have emerged.
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Fuente: washingtonian - 🏆 74. / 68 Leer más »