For the Shakespeare Theatre Company, expansion of its current theatre building in the bustling Penn Quarter neighborhood was critical.  But their success would hinge on the addition of a new player – and the development of an unprecedented business relationship.  

Numerous challenges threatened the feasibility of the expansion plan, including an arts overlay, the need to lease office space, historic preservation requirements, and a pre-existing block declaration governing parking and access, to name a few.

The theatre company sought out JM Zell to reformulate the strategy.  After assessing the project’s fundamental needs, JM Zell developed a unique joint venture strategy that would help overcome the myriad obstacles and shape a clear direction for the theatre’s future.

Created and executed by JM Zell, the landmark joint venture enabled two independent organizations – the theatre group and a union – to secure separate financing vehicles but then join together for construction.  Upon completion of the project, the two organizations will occupy the single building, mixed-use project under a condominium regime.

Under JM Zell’s stewardship the project was opened in 2007 and provided an 800 seat theater, thereby fulfilling the objectives set forth in the Theater’s  1999 strategic growth plan.

http://www.aiadc.com/architectureDC/spring2008/theaterdesigns.pdf