FOR IMMEDIATE RELEASE
San Francisco, CA – Community Vision Capital and Consulting (Community Vision), a federally certified Community Development Financial Institution (CDFI), has provided a total of $7.3 million in below-market acquisition financing to Community Media Arts, Inc. (CMA), a partnership between the Community Arts Stabilization Trust (CAST) and KALW Public Media, to purchase the historic Warfield Building located on Market Street in San Francisco’s Mid-Market neighborhood. This strategic financing will enable the creation of a community-centered hub for independent journalism, media, arts, and nonprofit organizations, marking a significant step in revitalizing the neighborhood and strengthening the cultural fabric of San Francisco.
The Warfield Building, originally constructed between 1909 and 1921, is a landmark in San Francisco’s storied history. The Warfield Theatre, which was not included in the purchase, opened on May 13, 1922, as a vaudeville theater and movie palace and has since become renowned for its intimate ambiance, exceptional acoustics, and ornate façade. As one of the city’s most treasured historic venues, the Warfield Theatre and Warfield Building, has long been an essential cultural landmark for San Francisco, deeply woven into its history and identity.
The $7.3 million in below-market rate financing will facilitate CMA’s purchase of the Warfield Building during a period when commercial real estate properties in San Francisco are experiencing historically low values. This financing will support the acquisition of 48,000 square feet of rentable space in one of San Francisco’s most vibrant districts, which will be made available to community-serving arts organizations at affordable rates for the long-term.
With this acquisition, CAST will be able to expand its impact on the local arts community by providing vital, affordable space to nonprofits and community organizations. CAST’s partnership with KALW Public Media will help ensure that the building serves as a hub for diverse, in-person community programming, fostering the growth of independent media, arts, and cultural initiatives in the heart of the city.
“This acquisition builds on Community Vision’s long term commitment to Bay Area arts organizations and represents an incredible opportunity to create a lasting legacy for San Francisco’s independent media and arts communities,” said Catherine Howard, President of Community Vision Capital and Consulting. “We are proud to support CAST and KALW in their mission to preserve and adapt this historic building for community use. By providing financing during a time of low commercial real estate values, Community Vision is proud to continue to contribute to the future vitality of San Francisco’s cultural and media landscapes.”
As CAST’s largest acquisition to date in terms of space, the Warfield Building will play an important role in ensuring the longevity of arts and media organizations in San Francisco’s downtown area. The financing from Community Vision is critical in enabling CAST to seize this unique opportunity to make the building a permanent home for community-serving organizations, ensuring a vibrant, inclusive cultural hub for generations to come.
For more information, please contact:
Saul Ettlin
Senior Advisor to the President
Community Vision Capital and Consulting
Phone: (415) 392-8215
Email: settlin@communityvision.org
870 Market Street, Suite 677, San Francisco, CA 94102
About Community Vision Capital and Consulting
Community Vision Capital and Consulting is a federally certified Community Development Financial Institution (CDFI) that provides financing and advisory services to organizations that are strengthening communities in California. Through strategic investments in real estate, community facilities, and nonprofits, Community Vision works to build equitable, vibrant neighborhoods. Since 1987 Community Vision has provided more than $613 million in financing and grant resources, leveraging more than $2.5 billion in additional investment.
About Community Arts Stabilization Trust (CAST)
The Community Arts Stabilization Trust (CAST) is dedicated to strengthening the financial and organizational health of arts organizations in California. CAST provides capacity-building resources, advocacy, and strategic partnerships to ensure the sustainability and success of community-serving arts organizations.
About KALW Public Media
KALW Public Media is a nonprofit radio station based in San Francisco, offering a diverse range of programming that highlights local culture, arts, news, and public affairs. KALW is committed to fostering community connections through in-depth reporting and engaging content.
