Reinvestment Fund fuels the Philadelphia creative economy, supporting a space that welcomes artists, designers and musicians to work collaboratively in a diverse environment.
REC Philly, formed in 2015, was created to give artists and musicians a platform to perfect their work. Unlike other co-working spaces in the city, such as WeWork and Addacity, REC Philly provides accessible and affordable resources so that their members can be successful in their trade—creativity. Reinvestment Fund’s loan allowed REC Philly to expand to a new space in the Philadelphia Fashion District located on East Market street.
REC Philly got its start in an second floor warehouse space in North Philadelphia where co-owners Dave Silver and Will Toms had the idea to build equitable access to creative entrepreneurship by offering affordable equipment and space for artists to make work. Their original location in North Philadelphia attracted more than 800 members, the majority of whom are people of color. They rented everything from recording space to video equipment and marketing resources. REC Philly also helps connect its members with big brands. The original location served them well, but the owners aspired to find a place with better access to public transportation where they could offer their members more opportunities to network, develop, and perform their crafts.
With this expansion, the business will make a greater contribution to Philadelphia’s $4 billion creative economy and provide resources for a base of creators that is rapidly growing. REC Philly joins its neighbors in the commercial corridor east of City Hall in downtown Philadelphia, which has undergone significant revitalization. Spaces for arts and culture throughout the city have increased community engagement and cultural awareness, especially for youth and young adults.