With the biggest performing arts groups in dire financial shape, it looked like good news would be rare in the 2008-2009 season. The housing market and credit crunch have made life hellish for everyone. Artists are no exception. But there’s an upside. An ironic one. Before the housing collapse, Redux Contemporary Art Center and the Charleston Ballet Theatre were facing a costly reality. The PrimeSouth Group, which holds their leases, said each would have to meet the fair market value of their venues. If not, they’d relocate. Then the bubble burst and market conditions shifted dramatically. Retailers on Upper King Street began clearing out, making two arts groups seem too good to pass up. Now Redux and CBT are likely to stay put for the next three years. Funny how good comes from bad sometimes.
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