The reactivation of the Schaubühne Lindenfels through community shares
Underused buildings | Financing
Source: Schaubühne Lindenfels
Source: Schaubühne Lindenfels
Keywords: Abandoned Spaces | Culture and Heritage | Financial Engineering | Social Innovation


The feature of the Schaubühne Lindenfels is the foundation of a charitable, non-profit stock company, which uses their stocks as community shares to aquire funds for the rehabilitation of the building.



To finance the reuse the builing as a community based theatre with a cinema and gastronomy and to provide presentation space for young artists in Leipzig theatre actors from Leipzig founded a charitable, non-profit stock company, which uses their stocks as community shares to aquire funds for the project. People can buy stocks of the company for 24 € per stock. These stocks cannot be traded at a bourse; they only can be bought directly from the company. The stocks are art prints from Leipzig artists. The shareholders do not receive a yearly dividend (as the project makes no profit), but the dividend is the cultural performances in the neighbourhood and they have the right to participate in the annual shareholders' meeting with voting power.

Further income is generated through donations, crowdfunding and entrance fees for the theatre, the cinema, the exhibitions, the music and literature events and through the gastronomy.

For the rehabilitation of building they received 360.000 € through the urban redevelopment assistance programme – a joint programme by the national government with the federal states of Germany.



Through the different financial resources a new cultural centre within the neighbourhood could be establised. Through the involvment of the shareholders a strong identification with the Schaubühne Lindenfels could be achieved as well as the strengthening of the civic engagement. So far there are around 1.200 shareholders, through which 112.800 € was earned for the project. All incomes together cover around 50 % of the costs of the project. The other 50 % is gained through public cultural subsidies.



City information

Population size: 501 th - 1 m
Population development dynamics within the city administrative limits (at the time of the project): Shrinking
Population development dynamics of the functional urban area (at the time of the project): Shrinking
Website of the city:

Project information

Project territorial scale: Other specific territory
Project geographical area: Transitional area
Project/building proportions: Over 1000 sqm; Project Area: No data/not applicable
Project main actors: Resident association, group, citizens; Cultural, creative organisation, non-commercial private sector; 0
Project dominant property ownership: Private
Project development stage (at the time of description): Completely finished
Project duration: More than 5 years
Project starting date: Before 2010

Project references (web pages, social media or press publications);;;

Contact Person

Schaubühne Lindenfels;