I believe deeply we can do things differently - buying a property with traditional cash/loans - but turning it into a community trust.
And on top of it orchestrating artists in a way that gives them equity, true support in the form of deeply affordable studio space that they own, programming that pays teaching artists a true workable wage - $50 an hour
Ways that may work or be avenues for success - Co-ops, ESOP, Green funds, share/bond models etc
Do you have expertise that could help spell out the best next steps for Three Hearts? - Come join us, reach out to Kelly Lawler directly kellylaw555@gmail.com.
This is the closest thing to an accelerator for cooperative startups.
What they help with:
Ownership structure design
Member share structure
Community investment models
Capital stack strategy
Investor introductions
Why it fits Three Hearts:
They work with innovative co-op structures, not just traditional worker co-ops.
They understand raising capital without traditional equity.
Many projects in their accelerator are platform co-ops, real estate collectives, and community investment models.
They would likely help you answer:
How artists buy shares
Whether to use member shares vs community bonds
How to structure governance + investment returns
For your $2M target, this kind of support matters.
They are one of the leading organizations helping new co-ops design governance and ownership models.
What they provide:
Co-op startup coaching
Technical assistance
governance frameworks
introductions to cooperative lawyers and developers
Why they matter:
Three Hearts likely needs a multi-stakeholder structure, which DAWI has experience with.
Possible stakeholders:
artists (studio members)
community investors
operating entity
possibly a nonprofit partner
DAWI helps map how those groups share ownership and decision-making.
This is the national network of cooperative developers.
The key local partner for you would likely be:
Keystone Development Center (Pennsylvania)
They help with:
feasibility analysis
legal structure
business planning
financing strategies
cooperative incorporation
In practice they help turn an idea into:
• bylaws
• membership structure
• financial model
• legal entity
This is a category you may want to explore in addition to the co-op groups.
Organizations working on community ownership of real estate:
Seed Commons – cooperative capital fund
Shared Capital Cooperative – loans to co-ops
The Working World – financing democratic enterprises
GREEN Funds
Pennsylvania / State Green Building Funds
https://dced.pa.gov/programs/high-performance-building-program-hpb/
Pennsylvania Green Energy Loan Fund (GELF): https://www.dep.pa.gov/Business/Energy/OfficeofPollutionPrevention/FinancialOpportunities/Pages/Green-Energy-Loan-Fund.aspx