[Rendering via Capital Fringe]
Theater non-profit Capital Fringe is getting a new home this winter with a $4.5 million building in the Trinidad neighborhood. The down payment for the building was $1.95 million. The additional $1.5 to $2.7 million renovation will construct three black-box theaters, a rehearsal space, a beer garden, and a courtyard. Capital Fringe hopes to move in by November 30 with its first theater and rehearsal spaces completed by January 2015. Capital Fringe will pay off the building by 2017 through an arrangement with the seller.
The second phase of the renovation will be benefited by financial assistance from major donations. This phase will include the installation of a terrace to overlook the beer garden and more than 100 seats into each black-box theater.
· Capital Fringe agrees to purchase new Florida Avenue home for $4.5 million [Washington Business Journal]
- Michelle Goldchain