SecuringSpace

To come to the table ready to engage with CAST, we recommend working closely with partners like Community Vision (opens in new tab) who offer financial management and real estate guidance to nonprofits and social enterprises to determine those essential needs, especially if you’re a newer organization that’s still figuring out its capacity.

Book a complimentary appointment with Community Vision (opens in new tab)

If you’re considering buying or leasing a space for your project but aren’t sure where to start, we can help you build a foundation with the following education:

• Real estate literacy

• Leasing and purchasing strategy

• Shared space and partnership models

• Financial and legal frameworks

• Community-centered operations 

If you’re already familiar with the real estate process, you’ll need to have a solid grasp on your:

1. Organizational Mission/Vision & Business Plan

2. Staff & Board Capacity

3. Financial Readiness

4. A determination of your space needs including: square footage, location, zoning needs, accessibility (ADA), parking, loading, and any program-specific requirements

If you’re considering a space for your project but are unsure if it will work for your needs, we can help you with preliminary exploration, including:

• Assembling a project team
• Developing a budget, financial analysis, and schedule
• Exploring financing/funding options
• Getting entitlements

Identifying what kind of expertise you’ll need for your project, from brokers, from appraisers, building contractors to legal specialists, can be a daunting task if you’ve never navigated a real estate transaction before. CAST can support putting together the right team of industry experts who have familiarity with artists’ requirements and needs so you can move forward with confidence.

Community and economic development sectors have developed a number of financing tools for bridging the gap between what community organizations can afford and what it costs to secure space. We employ our network to source philanthropic support where applicable and use financing tools like New Markets Tax Credits, bonds, and program-related investments to bring costs down.

When the tools don’t exist, we build them, in partnership with artists, policymakers, and developers.

CAST works closely with real estate brokers and the network of professionals who seek to identify and activate the unique spaces that work well for arts and cultural uses. We can help advise you on how to manage risk and get the most affordable deal through:

• Site searches and broker engagement

• Negotiations and drafting of an LOI, PSA or Lease

• Due diligence including title policy, property inspection, phase I & II environmental reports, appraisal, ADA, zoning and use confirmation

• Operating pro forma and financial projections

• Property tax exemption (when applicable)

We work with you to reach a deep understanding of goals and community commitments. Through site visits, space planning, test fits, estimating, and consultant management, we advocate for you, your design needs, and community commitments throughout the design process.

Dreaming Spaces (opens in new tab) demonstrates CAST’s commitment to inclusive, welcoming, and accessible community engagement to dream and create spaces for artists and arts organizations. We can help you create a process for artists and community stakeholders to provide meaningful input to inform project plans, programs, designs, and ongoing operations and governance.

We connect you with design and construction professionals appropriate for your project to customize the space for your intended use and comply with state and local regulations and requirements. We can also manage the design and construction teams, schedule, and budget.

Working from organization/community-approved design, we provide guidance or management through build out, including estimating, bidding, project launch, regular progress meetings, site visits, budget control, schedule control, risk mitigation, close out, and hand over.

Once a project has achieved stability and your programs are up and running, the work shifts to stewarding space. We can support you with long-term property and asset management, including space activation and managing short-term and long-term rentals.

See more about Stewarding Space (opens in new tab)