Research Commissioned by the Kenneth Rainin Foundation
The Lessons from 10 Years in Cultural Real Estate report, written by John Carnwath, captures the key insights gained by CAST in its mission to secure affordable spaces for arts organizations in the San Francisco Bay Area. Below are the five main findings from these interviews that can benefit the broader arts and cultural sector:
- Partnerships: CAST emphasizes the importance of identifying and cultivating strong partnerships with organizations deeply rooted in their communities, particularly those facing systemic challenges.
- Sustainable Operations: Balancing affordable rent with the costs of property management has required CAST to innovate, often relying on philanthropic support and economies of scale.
- Financing: CAST helps cultural organizations access low-interest loans and tax credits, though these mechanisms often require specialized expertise and are better suited for larger projects.
- Ownership Model: CAST’s lease-to-own model has evolved to include maintaining a 1% ownership stake in properties to ensure long-term cultural use.
- Support for Artists: CAST has recognized the need to directly support individual artists, as securing spaces for organizations doesn’t always translate to meeting the needs of the artists themselves.
