Welcome to Gloucester Stage Company, Gloucester, United States. For the past 20 years Gloucester Stage Company has resided in a brick warehouse building situated on picturesque Smith’s Cove across from the artists’ colony on Rocky Neck in Gloucester, Massachusetts.
On December 28, 2004, Gloucester Stage Company purchased the 2-story building from its landlord, Gorton’s Theatre, for $750,000, with the assistance of a bridge loan from Gloucester Cooperative Bank. The purchase provides Gloucester Stage Company with a permanent home and a substantial capital asset. As the owner, it also permits Gloucester Stage Company to improve the street level floor of the building it has occupied in a phase one renovation which will include air conditioning, new front windows and interior improvements to the lobby to be completed before the 2005 season commences in June. As for the bottom floor of approximately 8,600 square feet, Gloucester Stage Company will lease it out for the next several years to generate needed income; in the longer term, Gloucester Stage Company will incorporate the space for the Theatre and related activities such as the Gloucester Stage Conservatory and School.
After providing the space at no cost to Gloucester Stage Company, Gorton’s culminated its generosity by selling the property to Gloucester Stage Company at a deeply discounted price. In order to close the transaction as planned, Gloucester Cooperative Bank provided a loan on favorable terms to bridge the time necessary to raise and collect the funds necessary to purchase ($750,000) plus the costs of renovation and capital campaign ($250,000). Gloucester Stage Company's mission is to present professional productions of intellectually stimulating and socially relevant dramas, comedies and musicals; to provide a nurturing working environment for artists in an inspirational setting; to contribute to the cultural, economic and educational development of Cape Ann; and to enrich the nation's theater landscape by developing and presenting at least one world premiere production each year.
Gloucester Stage Company reviews
Login to comment