March 31, 2022
Boston, MA: The Lyric Stage Company of Boston is pleased to announce it has secured a new long term lease with Beacon Communities at 140 Clarendon Street, ensuring that the Lyric Stage will remain a vital and essential part of the cultural fabric of the city. For decades to come, Lyric Stage will serve the community, bringing to the stage productions that feature Boston’s best local theatrical talent. With 140 Clarendon as its permanent home, Lyric Stage will celebrate its 50th anniversary in 2024 at its beloved Back Bay location.
“The playing space of the Lyric Stage is so unlike any other,” said Artistic Director Courtney O’Connor. “The three-quarter thrust means that audience members are able to look each other in the eye, sharing and sometimes contrasting their responses. Because of the intimate links between artists and with audiences in our auditorium, we focus our energies on producing stories about families. The new ownership of 140 Clarendon Street fits our mission completely. For years, we have referred to Lyric Stage as Boston’s theatrical home. I’m glad that the new owners are expanding the number of Bostonians who will literally call the building home.”
“Having an institutional partner like Beacon Communities is a game-changer for us,” added Executive Director Matt Chapuran. “Working in partnership to create a welcoming environment for the residents of the building will help make Lyric Stage a place of belonging for all Bostonians.”
In partnership with Beacon Communities LLC, the Lyric Stage will continue its commitment to improving the lives of Bostonians alongside a partner who shares those same values. While preserving the existing cultural and commercial uses, Beacon Communities is transforming the upper floors of 140 Clarendon into 211 affordable apartments, half of which will serve people exiting homelessness, with the assistance of the Pine Street Inn. The combined energy of Beacon’s supportive services alongside one of the city’s cultural gems makes 140 Clarendon a paragon of community institutions coming together to make the city a better place for its residents.
“With this first-of-its-kind project in Boston, we are thrilled to be providing access to better quality of life in the Back Bay for many in need of permanent supportive housing,” said Dara Kovel, CEO of Beacon Communities. “We are delighted that this community will ensure that 140 Clarendon will remain the home of the first YW in the nation, and Lyric Stage, a cultural treasure for nearly 50 years, preserving them long into the future.”
At Beacon’s ribbon cutting for the building in December, it was an honor to have the newly elected Mayor of Boston Michelle Wu in attendance at one of her first events in the City. The milestone event was also headlined by Governor Charlie Baker.
Says Mayor of Boston Michelle Wu, “We’re thrilled that Lyric Stage’s home at 140 Clarendon will allow it to continue building on its historic contributions to Boston’s arts community, and the city as a whole. I look forward to seeing this beloved cultural institution continue to thrive and create more opportunities for Bostonians to enjoy and grow our performing arts community.”
The Boston YWCA Building was constructed between 1927-1929. It has been the YWCA’s headquarters for over a hundred years. All the cultural and educational organizations currently in the building, including the Lyric Stage, the Snowden School, a City of Boston charter school, Viga Restaurant, Honovan Tailor, the Resource Connection, and the YWCA’s offices will remain as tenants.
This project is supported by a combination of local, state, and federal funds. DHCD allocated state and federal tax credits creating roughly $60 million in equity, and nearly $6 million in direct subsidies. MassHousing is providing a $37.2 million permanent loan, a $20.3 million bridge loan, and $500,000 in CMF financing for a total of $58 million in financing.
History of the Lyric Stage Company of Boston
Founded in 1974 and in residence at 140 Clarendon Street since 1991, the Lyric Stage Company is Boston’s oldest resident theater company. Its mission is to produce and present live theater in Greater Boston with an intimate approach that promotes inclusivity and connection. The Lyric Stage leads an effort to integrate live theater and theater education into the lives of all residents of greater Boston.
About Beacon Communities LLC
Beacon Communities LLC is a privately owned real estate firm that develops, acquires, invests in, and manages a wide range of multi-family housing. Their portfolio includes affordable housing, market rate housing and mixed income-housing. Their developments range from new construction, to historic adaptive reuse, to the renovation of existing housing. They take on challenging developments and make them succeed. Their driving passion is to create well-designed, healthy homes that improve the quality of life of their residents and enhance the neighborhoods in which they are located. For more information about Beacon Communities LLC please visit www.beaconcommunitiesllc.com.