Received $1,250,000 loan to takeout a construction loan for the rehabilitation of historic hotel in Clarksdale, MS to be run by an artist co-op. In 2018, the Travelers Hotel opened to not only celebrate Clarksdale’s rich musical and artistic history, but to transform the local economy by creating a place where art and artists can thrive year-round. The Travelers Hotel will work to make Clarksdale a destination for both artists and art lovers of all kinds, while providing much needed community space and a variety programming for Clarksdale residents. The hotel is managed by an artist cooperative. Artists work two to three days a week at the hotel and at its sister property, a general store and garden center called Collective Seed & Supply Co. The artists live above the general store and, with their basic expenses covered, are able to invest the rest of their time in their creative pursuits. Travelers Hotel – In 2018, NMSC provided low-cost financing to the Travelers Hotel through our Growing Rural Communities Fund, a partnership with Northern Trust and Rural LISC. The hotel, which opened in early 2019, will celebrate Clarksdale’s rich musical and artistic history while working to transform the local economy by creating a place where art and artists can thrive year-round. The Travelers Hotel will work to make Clarksdale a destination for both artists and art lovers of all kinds, while providing much needed community space and a variety of programming for Clarksdale residents.
