The Westcoast Black Theatre Troupe purchased the space where the company has performed for the last three years, March 26, according to theatre spokeswoman Lisa Rubinstein.
The purchase price was $450,001, which was the minimum bid the bank would accept during the auction.
“I’m really excited to be able to organize our world,” said Artistic Director Nate Jacobs. The organization will now have the opportunity to work out of its own scenic design and implement educational programs, which a new hire will work with Jacobs to coordinate.
The Troupe bought the 2-acre property at a foreclosure auction as the only bidder. Circuit Court Judge Charles William ordered the two property owners to pay $1.8 million to Superior Bank Feb. 19, about one year after the bank filed to foreclose on the property.
The Troupe now owns the theatre building and the Binz Building, which are located near the intersection of Orange Avenue and 10th Way.
“We are overjoyed that for the first time in the troupes first time in history they now have a home of their own,” said CEO Christine Jennings.