NEW YORK CITY-San Francisco-based Tides has opened a green nonprofit office center, called Thoreau Center for Sustainability, here. The new center offers shared workspace and a healthy work environment for its nonprofit tenants, as well as social investment opportunities for its funders.

The center, located at 55 Exchange Place, is an environmentally sustainable workspace shared by 12 nonprofit organizations and programs. Located in the old JP Morgan Building, across from the New York Stock Exchange, the center is the first shared community and conference space for nonprofits in Lower Manhattan.

Thoreau Center for Sustainability is one of the first office spaces in New York City registered for LEED Commercial Interiors certification. Bridge financing for Thoreau Center New York was provided by Wells Fargo Bank with long term financing from Calvert Foundation, Tides Foundation and tax exempt bonds issued by New York City Industrial Development Agency. "Green nonprofit centers help increase efficiencies in the nonprofit sector and reduce nonprofit organizations' exposure to rental market fluctuations," says Gita Rao, investment officer of the Calvert Foundation, in a release.

"Nonprofits have an especially hard time finding affordable office space," says China Brotsky, VP at Tides and managing director of Tides Shared Spaces. "That's why we both create shared spaces for nonprofits and have a program dedicated to helping others start their own green nonprofit centers. Together, groups can gain real purchasing power to access higher quality workspace, infrastructure and technology; and they also expand their network, gaining access to new ideas, potential partners and opportunities."

Lillian Rodriguez Lopez, executive director at Hispanic Federation, notes that "by buying and renovating Thoreau Center New York, Tides Shared Spaces made it possible for us to acquire a long-term home and a conference center to serve our community."

Instant Insights /

Tides Opens Downtown Green Nonprofit Center

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