Sherman Associates, in collaboration with Duluth Playhouse, the City of Duluth, and other development partners, recently celebrated the transfer of ownership for NorShor Theatre from Sherman Associates to Duluth Playhouse. This marks a significant milestone in the nearly 60,000 square foot theatre’s history.
The NorShor Theatre is now a state-of-the-art regional arts center that offers full performing arts education and production facilities. It boasts a 605-seat main stage theatre as well as a wine bar and music/theatre classrooms.
In 2017, Sherman completed an impressive $29.5 million adaptive reuse project to restore this historic landmark. This was made possible through a unique partnership between private companies like Sherman Associates and public entities such as Duluth Playhouse and the City of Duluth. The project utilized various sources of financing including private/public debt/equity options along with tax credit allocations,tax increment financing,and grants from both parties involved.
This exciting news has been shared by Connect CRE – your go-to source for all things commercial real estate!
