The founder of Storm Partners in New York, LLC, Joyce Storm possesses more than 20 years of experience in real estate development and acquisition. Responsible for negotiating development deals that involve regional shopping malls, entertainment centers, and other retail businesses, Joyce Storm also serves on the board of directors for Building for the Arts.
The organization fosters creative cultural engagements by facilitating arts endeavors throughout neighborhoods and communities in New York and other US cities. In an effort to support new generations of theatrical artists, Building for the Arts is preparing a new initiative to make it easier for up-and-coming theater troupes to find rehearsal and performance space in New York City’s high-priced real estate market. The organization recently announced a two-year program called the Kitchen Sink Residency, which will welcome five theater troops to develop new performances at Theatre Row. The Off-Broadway venue at West 42nd Street in Manhattan is one of Building for the Arts’ signature projects, offering theater and rehearsal-studio rentals for performing art groups.
In addition to using the theaters and rehearsal spaces free of charge, the five troupes in residence will each receive marketing and production support and a $7,500 stipend. The selection process will be competitive, with Theatre Row already inviting more than 80 troupes to apply. When evaluating applications, the organization plans to give preference to New York City-based groups that have been producing performances for at least five years.
The president of Storm Partners, LLC, Joyce Storm is an integral part of the New York business community who offers investment, development, and advisory services in the retail real estate space. Committed to supporting the arts, Joyce Storm serves as a member of the board of directors and the real estate committee of Building for the Arts, a nonprofit organization located in the off-Broadway epicenter of West 42nd Street.
Building for the Arts oversees Theatre Row, a program which offers a live venue for productions that focus on contemporary, culturally relevant issues. As noted in the Reviews Hub, one recent play staged at the venue was Not Even the Good Things by Joseph Scott Ford. The comedy centers on a couple that arrives at a Catskills vacation rental and experiences domestic tribulations witnessed by a girl who turns out to be a ghost.
The play, which falls loosely under the category of “contemporary realism,” examines how a loss of faith can occur and how the past follows you, whether invited or not. The message is to learn how to let go of the past and forge a new reality in order to overcome old patterns.
Joyce Storm and Theatre Row were recently in the news with the announcement of the Kitchen Sink Residency program. This initiative will enable next-generation performing groups to stage productions in a venue that would otherwise be out of their reach in the pricey Manhattan theatre district.
Joyce Storm established Storm Partners in the late 1990s, and the New York firm has become a major force in the acquisition, development, and management of large commercial real estate ventures. Joyce Storm’s achievements include her 2001 real estate consolidation of United Artists, Regal Cinemas, and Edwards Theaters into a prepackaged bankruptcy product for investor Philip Anschutz. The consolidated three chains became Regal Entertainment Group.
In December 2017, Regal Entertainment Group was bought by the UK Theater Chain Cineworld for $3.6 billion forming the world’s second largest cinema group.
By the year 2016, the chain had 560 theaters with over 7,400 screens.
With three decades of experience in the field of real estate investment and financial transactions, Joyce Storm currently heads Storm Partners, LLC. The New York-based firm focuses on advising developers and hedge fund on ideal standards in real estate acquisition and development. Storm Partners conducts its own investment and management operations. Joyce Storm has built extensive experience in deals involving regional shopping malls, entertainment centers, and retail establishments.
Among her other professional affiliations, she is a member of the Urban Development and Mixed-Use Council of the Urban Land Institute. The council concentrates on promoting best practices in developing and redeveloping urban mixed use projects.
The Urban Land Institute (ULI) itself represents the world’s largest and longest-established group of land-use and real estate professionals. Dedicated to information-sharing for the benefit of themselves and their communities, ULI members have designed standards that serve as benchmarks for responsible model practices in the use of urban spaces.
In its publication Urban Land, ULI explores a range of issues of interest to members, from housing markets and international conferences to the creation of 21st-century cities that will attract new generations of knowledge workers and professionals.