New Markets Tax Credit Coalition

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Geneva Car Barn and Powerhouse Rehab

Investment

  • NMTC Amount: $11,737,000
  • Total Project Cost: $15,067,526

IMPACT

  • 39 FTE jobs
  • 50 construction jobs

Investor

Project Description

The Powerhouse is approx. 3,100 sq. feet with 35’ high ceilings. Arts programming will be provided by the Performing Arts Workshop, a non-profit performing arts programming provider that has been working with underserved youth in San Francisco for over 40 years. They will also provide performing arts programming for toddlers, adults, seniors and families, and partner with other neighborhood-based arts organizations to provide visual arts programming. The Department is also partnering with the Community Arts Stabilization Trust, who will be providing capital funding to the Project and enabling the utilization of both new market and historic preservation tax credits.

The space will also serve as a community meeting place, and can be rented by arts groups for short-term events such as rehearsals, performances, and art exhibitions, as well as by individuals for events such as weddings and community. ECB Secured $12.1 million in NMTC allocation to renovate the Powerhouse building of the Geneva Office Building and Powerhouse. The Powerhouse will be adapted it into a new youth arts center and a community meeting place, including the creation of new studio and exhibition spaces and a 99-seat black box. This project revitalizes a historic building at the center of several dense urban neighborhoods and to provide young people job skills through arts education. The renovation of the Powerhouse, along with a future phase renovation of the Car Barn represents approximately $34 million investment.

MAP

Address: 2301 San Jose Avenue, San Francisco, CA 94112

Census Tract: 6075026100

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