Five community groups. Five historic buildings. Plenty of opinions. Somehow, this is becoming a shared plan for arts, recreation, senior services, entrepreneurship, and neighborhood vitality. The secret sauce? A whole lot of listening before anyone orders the construction equipment.

Nonprofit real estate partnerships can help turn an ambitious capital project into a sustainable community asset . . .if someone plans for the bills after opening day! Pikesville Armory Foundation’s David Ginsburg shares the funding, tenant, and community strategies behind a $100 million redevelopment of a historic 17-acre campus.

David joins Julia C. Patrick and Your Part-Time Controller’s Ellie Hume to explain how an 18-month governor’s commission and 50 additional community meetings helped shape the project. “And almost every meeting produced an idea we didn’t even think of that we incorporated,” he says. That engagement also helped make the case to government officials and funders.

Then comes the question every nonprofit board should ask: who keeps the lights on? David describes an operating model built around anchor partners, a 30-year county arrangement for outdoor recreation, and tenant responsibilities. “So about 80% of our operating costs will be borne by our tenants going forward.” That is a very different conversation from simply raising enough money to build.

Explore nonprofit capital project funding through public support, philanthropy, matching grants, and competitive incentives. David reports a newly awarded $5 million state historic tax credit and a previously awarded $15 million Maryland catalytic incentive. He also discusses a projected $540 million in economic development over 10 years and an early demand signal: the restored meeting venue is used about 25 times monthly.

Follow the project at pikesvillearmory.org.

Key Takeaways

 

– Plan operating responsibilities alongside the capital campaign, before opening day.

– Use community research to shape facilities, validate demand, and build public support.

– Recruit anchor operators with long-term commitments; this model anticipates tenants bearing about 80% of operating costs.

– Combine funding sources while accounting for incentive timing and preservation requirements.

– Track facility use now and community economic outcomes over time.