Photo by Wesley Hitt / Courtesy of TheatreSquared
The good news just keeps on rolling in for Fayetteville’s TheatreSquared.
Officials today announced a $2.9 million commitment from the State of Arkansas to put toward construction costs of the local theatre company’s new permanent home in downtown Fayetteville.
The money will come from the state’s rainy day fund in recognition of the project’s substantial economic development and quality of life contributions, according to a news release from TheatreSquared.
The commitment completes the company’s $9 million public funding goal as part of its $31.5 million project budget to fund construction of the new facility.
The Fayetteville City Council in March 2017 contributed $3.1 million toward the project. A $3 million grant from the Fayetteville Advertising and Promotion Commission followed shortly after that.
Other major gifts have come from the Walton Family Foundation, which donated $12.5 million in April 2017, and another $1.8 million in September of that year.
A $1.5 million gift from the Willard and Pat Walker Charitable foundation was announced in mid-March of this year, and a $1 million commitment was made earlier this month by Lynn and Joel Carver.
TheatreSquared is now in its final fundraising phase as it seeks the remaining 10% of project funds and to establish a new capital reserve fund to help sustain the company’s artistic and educational programs.
Construction of the new facility is wrapping up at the southeast corner of West Avenue and Spring Street. The new buildings include two performance stages, rehearsal areas, costume and prop shops, dressing rooms, a green room, administrative offices, and eight apartments for guest artists. Public common areas with educational and gathering spaces were also included in the design.
The company will hold its traditional season kickoff celebration on Aug. 8 in the new facility. A week later, the first performances of Shakespeare in Love begin. Patrons can reserve tickets for the season kickoff celebration at theatre2.org, or sign up for the grand opening season and be designated as Founding Subscribers.
For more information about the company’s capital campaign, visit ournextstage.org.