New Day Chester, Inc.
Several recent developments have provided an opportunity for mission-aligned investment in Chester, PA. After many years of decline and then vacancy, entrepreneurs are returning to Avenue of the States. With strong entrepreneurial leadership emerging, the arts are poised to ignite an urban renaissance in Chester. Unlike other artist driven urban revivals, the leaders are from Chester and are dedicated to developing and showcasing local talent for local audiences, nurturing arts enterprises and creating a distinct Chester arts movement. A Program-Related Investment (PRI) in the form of a low-interest loan to New Day Chester, Inc. will provide the funding needed to continue rehabbing three of the six buildings, which will be at the core of the arts district. Since this would be Barra’s first PRI there is a significant opportunity for Barra to learn, and share its learning, about this emerging tool for foundations and nonprofits.