Photo by Steve Kohn.
Washington, D.C.'s most eclectic music venue, Rhizome, is currently housed in a run-down house in Tacoma. The home had housed an arts nonprofit and DIY space since 2016, but in 2020, landlord Maple Park Associates LLC announced plans to sell the property to developer Petra. The sale has not been finalized and Rhizome is now trying a new strategy. It's about buying a new space with the help of the community.
At Tuesday night's town hall meeting, Rhizome co-founder Layne Garrett announced that with the help of a $350,000 grant from the Washington, D.C., Arts and Humanities Commission, the nonprofit will be located on Alaska Avenue, N.W. announced they are looking to purchase a permanent space at 7733. It's located just over a mile from my current home.
“This is not home,” Garrett told attendees Tuesday night, referring to the new venue's upcoming commercial structure. “But we've made this our home, and we think you can relate to our confidence in making any space your own.”
However, Rhizome's grant does not cover the full cost of the Alaska Avenue site. And if your cash flow is negative, you won't be able to get a loan, Garrett says. So Rhizome is seeking loans from the community to raise the remaining $400,000 he needs.
“This is a different way of financing big purchases, and this organization is focused on community engagement and community empowerment, and we believe it aligns with our philosophy. “We've come up with this funding model that we feel is going to deliver results, and we're excited about how it's going to come to fruition,” Garrett says.
Loans are repaid twice a year over a 10- or 15-year period with an annual interest rate of 0 to 5 percent and a minimum amount of $2,500, depending on the lender's selection.
Garrett stressed that Rhizome has no immediate plans to close and has agreed with the landlord a six-month grace period to move out if a deal is finalized.
“We originally thought it would happen quickly, but it didn't,” Garrett said. “We don't know exactly how long we'll be there, but we've been waiting for news for over three and a half years.”
Maple Park Associates could not be reached for comment.when washingtonian I went to the Bethesda address where the LLC was registered, but no one answered the door.Petra didn't react right away. washingtonian Request for comments.
Rhizome's plans are progressing rapidly. The official deadline to use the grant money is September 30th. The deadline is tentatively set for May 9, but could be pushed back, Garrett said.
“So far, the deadline is looming,” Garrett said Tuesday night. “There seem to be a lot of moving deadlines in the commercial real estate world.”