Fayetteville's TheatreSquared secures $9 million toward new home

A rendering of the proposed TheatreSquared building.
A rendering of the proposed TheatreSquared building.

FAYETTEVILLE -- TheatreSquared announced Tuesday it has secured a $9 million grant from the Walton Family Foundation to build its new home at the corner of West Avenue and Spring Street.

The funding will be released "when T2 and the Northwest Arkansas community successfully satisfy a 1:2 fundraising challenge towards the building's construction," according to a news release.

The foundation has already given the nonprofit group $3.5 million to design the theater through its Northwest Arkansas Design Excellence Program.

The foundation's grants will serve as the cornerstone of the fundraising campaign that will go public this spring. TheatreSquared is finalizing commitments from major public and private funding sources to match the foundation's challenge and break ground this year, according to the release.

London-based theater planners Charcoalblue and New York-based Marvel Architects have been designing the 50,000-square-foot building. The venue will feature two theaters, a rehearsal space, offices, and education and community space, design workshops, eight guest-artist apartments and a cafe/bar, according to the release.

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