WASHINGTON, D.C., April 1, 2021 – The National Trust Community Investment Corporation (NTCIC) announces its 200th tax credit investment to support the restoration of the Huntington Theatre in Boston, Massachusetts. The $50 million revitalization will enable the theatre to address long-deferred maintenance, provide additional accessible accommodations, expand community programming, and produce additional performances annually once it reopens. NTCIC provided critical capital sources for the project, including $7 million in New Markets Tax Credit (NMTC) allocation and equity generated from the project’s $9.5 million in federal Historic Tax Credits (HTC).
“COVID has impacted so many industries across the country, particularly the arts,” said NTCIC Acquisitions Manager Amanda Bloomberg. “Financing the Huntington restoration while the doors are temporarily closed will allow the Huntington to come back more impactful than ever when it reopens.”
Originally built in 1925 as the “Repertory Theatre of Boston,” the Huntington Theatre was one of the country’s first nonprofit playhouses. In the past 39 years, the Huntington has played to an audience of 3.5 million, presented over 200 plays (18 of which went on to Broadway or Off-Broadway), and served over 500,000 students, community members, and other cultural organizations, becoming Boston’s leading professional theatre and one of the region’s premier cultural assets. However, due to significant deferred maintenance by its former owners, the theatre requires renovation and upgrades to safely and successfully provide world-class theatre performances and educational programs to the community. This includes an all-new elevator serving all floors, HVAC and sprinkler systems, and electrical wiring.
The redevelopment will consist of restoring the 44,000 SF theatre and the attached service building that houses dressing rooms, rehearsal space, offices, and brand new all-gender restrooms that will serve all theatergoers. The renovated theatre space will have additional accessible seating locations, improved sightlines, and new acoustic systems, ensuring a high quality and comfortable audience experience. These improvements to the theatre complex will increase the Huntington’s capacity for meaningful people-to-people engagement, educational programming, and vibrant exchange of ideas through performance and collaboration. The theatre is expected to reopen in the fall of 2022.