NASHUA, NH – Brady Sullivan, a Manchester-based property management company, recently committed to a leadership gift of $100,000 to the Nashua Performing Arts Center through the New Hampshire Tax Credit Program according to Rich Lannan, president of Nashua Community Arts.
“Brady Sullivan is committed to community involvement in all the cities where our properties are located,” said Arthur Sullivan. “We understand that a vibrant arts and culture scene enhances the quality of life for all residents, draws visitors, and makes a city a place where people want to work and live. The Nashua Performing Arts Center will bring excitement and activity to Nashua’s downtown and we are happy to support it.”
Mayor Jim Donchess extended a big thank-you, on behalf of the city.
“We are grateful to Brady Sullivan for their investment in Nashua’s Performing Arts Center and their belief that the arts are an economic driver for the city as well as providing exciting experiences for the residents of their Nashua properties,” Donchess said.
The Nashua Performing Arts Center will be located at 201 Main Street in the heart of downtown Nashua. Designed by ICON Architecture, it will be a flexible venue with retractable seats in the main-floor audience chamber to accommodate diverse theatrical and musical performances, comedy, family shows, corporate and non-profit events, and celebrations such as weddings and other private gatherings. The Performing Arts Center will seat up to 750, hold up to 1,000 standing, and offer banquet seating for 270 people.
Project Budget and Timeline
After four years of planning including market, capital campaign, and site location feasibility studies and the assembly of the project team, construction on the Performing Arts Center is anticipated to take approximately one year and is scheduled to begin in late 2020/early 2021.
This project is being financed through a $15.5 million bond supported by Nashua citizens and voted for by the Board of Aldermen, along with the expectations of obtaining $4.2 million from the sale of Federal New Market Tax Credits, and a $2.5 million private capital campaign.
In June 2019 after renderings of the new center were completed by the architects, the Capital Campaign Committee began soliciting donations toward a $2.5 million campaign goal including $365,500 in NH CDFA (Community Development Finance Authority) tax credits which sold out in three months. The campaign, headed by volunteer Deborah Novotny, senior vice president of lending for Enterprise Bank, is making excellent progress in obtaining support from local and state businesses, foundations, and personal donations. In its award of tax credits to the project, the NH CDFA stated “our partners are driving forces behind making New Hampshire communities strong, resilient and vibrant places. The project renovates a vacant building, providing a strong economic benefit to the local community through downtown redevelopment, access to arts and culture, and job creation.”
The Nashua Performing Arts Center will be operated by Spectacle Management of Lexington, MA. Spectacle books and operates seven other performing arts venues in New England and projects the Nashua Performing Arts Center will attract 70,000 people annually to Nashua’s downtown by year three of operations.
Nashua Community Arts is the 501c3 nonprofit associated with the Nashua Performing Arts Center. For more information, visit www.nashuacommunityarts.org.