The project is funded by New Markets Tax Credits, federal and state Historic Tax Credits, and city and state Community Development Block Grant funds. Reinvestment Fund provided a leverage loan—funded in part by an arts-related PRI from the Kresge Foundation—and a bridge loan to bridge Historic Tax Credit equity and the city and state loans. National Trust Community Investment Corporation provided the full NMTC allocation and serves as the investor for the NMTCs and the federal Historic Tax Credits.
The city’s only year-round professional theatre, Southern Repertory Theatre resides in the newly renovated 100-year-old church building, after not having a home since 2013. WSNO previously operated out of two leased properties located in the Irish Channel and Milan neighborhoods. The nonprofit school has operated for 15 years, integrating academics with the arts, culture and community from early childhood through 8th grade. The new facility will allow the school to grow its enrollment from 106 currently to 227 children in preK through grade 8, with more specialized classrooms and the goal of increasing enrollment from the neighborhood.
Rose Collaborative is located in the 7th Ward, adjacent to Bayou Road. One of the city’s oldest streets, it originally followed the historic portage between the Mississippi River and bayou out to the Gulf of Mexico. Today, Bayou Road sits at the crossroads of the city’s working class and most culturally resonant neighborhoods, adjacent to Tremé/Lafitte. The predominantly Afro-Caribbean corridor—surrounded by a community that is more than 80% African American and 60% low-income—is dominated by women-owned businesses known locally as the “Belles of Bayou Road. The neighborhood is also part of the City’s Livable Claiborne Communities initiative, an ongoing multi-year effort to invest resources in the city’s most culturally significant yet underresourced areas.