The Art League Gets Financing Boost!

Green Light To Relocate to Slater’s Lane Warehouse

The Alexandria City Council last week approved the issuance of a $250,000 Industrial Development Authority bond to help finance buildout of The Art League’s proposed new location on Slaters Lane. The IDA bond will be administered by the Alexandria Economic Development Partnership (AEDP) and its commercial lending partner, Freedom Bank, will lend an additional $500,000. 

An additional location is planned for the art space dedicated at the new Muse development. Here at OTNA, we are especially excited that this development of new TAL space would be the first project completed under the new Old Town North Arts and Cultural District Plan approved by the City Council in April 2018.

Under Virginia regulations, an Industrial Development Authority (IDA) works to promote and facilitate redevelopment activities. The IDA provides significant opportunities for industrial and commercial development. An IDA can issue tax-exempt bonds to provide long-term financing to promote industry and develop trade by inducing manufacturing, industrial, governmental and commercial enterprises and institutions of higher education to locate in and remain in the Commonwealth and in the City.

The Art League (TAL) still needs to finalize its new lease, but the IDA financing and the extension of its current Montgomery Center lease until June 30, 2024 have provided significant breathing room. 

Suzanne Bethel, Executive Director of TAL, told this author, "In pursuing replacement space for our school, the focus was preserving the depth and breadth of our arts curriculum in our hometown. Finding a new home, we knew, would be challenging because of the scale of our enrollment, the unique physical needs of our equipment, and the sheer square footage required to accommodate those things. 

Our collaboration with the Alexandria Economic Development Partnership and the Industrial Development Authority is helping us to overcome significant obstacles to remain within the Old Town North Arts District environs. Our heartfelt thanks extend to our students, artists, friends, and neighbors, as well as MRE Properties and Bruce Machanic, whose support during the pandemic made an immeasurable difference in the League's pandemic recovery and ability to pursue this project. We're excited to see The Art League flourish as an inspiring and welcoming creative hub in 2024—our 70th Anniversary in Alexandria.``

For more Art League project details and to support the relocation efforts, visit https://www.theartleague.org/support/facilities/