Tuesday, January 17, 2017

Walton Foundation commits $12.5 million to Fayetteville theater

Posted By on Tue, Jan 17, 2017 at 4:13 PM

click to enlarge THEATRESQUARED: Big gifts for Fayetteville theater's home, shown in a concept drawing.
  • THEATRESQUARED: Big gifts for Fayetteville theater's home, shown in a concept drawing.

TheatreSquared, Fayetteville's professional regional theater, announced today $12.5 million in gifts toward building a permanent home.

It will get a $9 million grant for construction from the Walton Family Foundation, to be paid when the theater meets a 1:2 fundraising challenge. It also got $3.5 million from the foundation's Northwest Arkansas Design Excellence Program to support the building's design.

A public campaign for matching money, including some initial lead gifts from local contributors, will begin this spring and the theater hopes for groundbreaking this year.

Plans call for a 50,000-square-foot building with two theaters, rehearsal space, offices and eight apartments for visiting artists, plus a cafe/bar at West and Spring Streets on leased city property.

The theater currently occupies space across the street in a  former  warehouse at Walton Arts Center's Nadine Baum Studios. A news release notes the new theater will directly connect to the Razorback Greenway, a regional bike trail that runs from Fayetteville to Bentonville. Lots more details and drawings at ournextstage.org.

Imagine what The Rep could do with $12.5 million.

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