{"id":2223,"date":"2024-07-02T15:03:31","date_gmt":"2024-07-02T15:03:31","guid":{"rendered":"https:\/\/tapestrycapital.ca\/?p=2223"},"modified":"2024-07-02T15:03:31","modified_gmt":"2024-07-02T15:03:31","slug":"hughs-room-live-community-bonds","status":"publish","type":"post","link":"https:\/\/tapestrycapital.ca\/fr\/hughs-room-live-community-bonds\/","title":{"rendered":"Iconic Toronto venue Hugh\u2019s Room Live uses community bonds to build long-term sustainability"},"content":{"rendered":"

\u201cTo me, there’s no comparison to seeing a really fantastic, completely unknown musician in a small venue,\u201d says Mary Mowbray.\u00a0<\/span><\/p>\n

And that\u2019s exactly why Mary joined the board of Hugh\u2019s Room Live, an iconic Toronto music venue that\u2019s hosted thousands of artists since opening in 2001, from big names like Joni Mitchell and Gordon Lightfoot to emerging Canadian talent.\u00a0<\/span><\/p>\n

The intimacy of a venue like Hugh\u2019s Room Live brings something special to each performance, Mary says. \u201cYou can be feet from the musicians when they’re performing. You can see them talking to their band and you can see the magic that happens in a live performance.\u201d<\/span><\/p>\n

\"\"<\/div>\n

But it\u2019s not always easy to run a small venue.\u00a0<\/span><\/p>\n

In 2020, just before the start of the pandemic and facing rising rent, Hugh\u2019s Room had to close its previous location at 2261 Dundas West. For three years, the organization held virtual performances, and when public health guidelines allowed, hosted performances at other venues around the city. But they knew they wanted a permanent home again. So in 2023, Hugh\u2019s Room Live purchased a new home at 296 Broadview Avenue with the support of more than 2,000 community investors and donors.\u00a0<\/span><\/p>\n

Now, Hugh\u2019s Room Live is running another community investment campaign, this time with the goal of raising $1.3 million to help refinance the existing mortgage on the property and reduce their cost of capital. With these savings, the venue plans to expand their programming, build a community space in the basement of the building, and make the space fully accessible \u2014\u00a0which it currently is not. \u201cThat means we can’t accommodate a musician who requires accessibility,\u201d Mary says. \u201cIt also limits our audience or puts them in a position where it’s harder for them to get in or they may decide they don’t want to come. We want to be completely accessible.\u201d\u00a0<\/span><\/p>\n

When she\u2019s not working on Hugh\u2019s Room Live projects, Mary works in commercial real estate, so she\u2019s observed the phenomenon of community organizations and small businesses being priced out of their longtime neighbourhoods across Toronto. \u201cI’ve seen that for years and years \u2014 independent retailers, like an independent coffee shop getting pushed out for a Starbucks. I see the long term sustainability that ownership offers.\u201d<\/span><\/p>\n

And Mary is excited about community bonds as a pathway to that ownership for Hugh\u2019s Room Live. \u201cThe community bond thing, I think, is so cool because it’s so simple and brilliant,\u201d she says. \u201cIt’s an investment that gives you a return and it’s guaranteed with a first mortgage on the building. So it’s very secure.\u201d\u00a0<\/span><\/p>\n

Community investors can choose between three bonds, with a minimum investment of $1,000. Mary says it was important to create an investment opportunity that was accessible to any live music lover who wants to support the venue while earning both a financial and social return.\u00a0<\/span><\/p>\n

\u201cWe have to support the arts and we can’t rely on governments to support them,\u201d says Mary. \u201cIf there\u2019s stuff that you like and value, then support it. Support it in any way you can. If you like independent coffee shops, go to Red Rocket (in Toronto). If you love independent bookstores, don’t order on Amazon; go to Book City or Scribe. We all make choices\u2026And I think live music has so many many benefits.\u201d<\/span><\/p>\n

Want to learn more? <\/span>Get all the details on Hugh\u2019s Bonds here.<\/span><\/a>\u00a0<\/span><\/p>","protected":false},"excerpt":{"rendered":"

\u201cTo me, there’s no comparison to seeing a really fantastic, completely unknown musician in a small venue,\u201d says Mary Mowbray.\u00a0 And that\u2019s exactly why Mary joined the board of Hugh\u2019s…<\/p>","protected":false},"author":12,"featured_media":2224,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"mc4wp_mailchimp_campaign":[],"footnotes":""},"categories":[22],"tags":[],"class_list":{"0":"post-2223","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-client-stories"},"yoast_head":"\nIconic Toronto venue Hugh\u2019s Room Live uses community bonds to build long-term sustainability - Tapestry Capital<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tapestrycapital.ca\/fr\/hughs-room-live-community-bonds\/\" \/>\n<meta property=\"og:locale\" content=\"fr_CA\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Iconic Toronto venue Hugh\u2019s Room Live uses community bonds to build long-term sustainability - 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