Company: CVM Associates
Headquarters: Raleigh, North Carolina
Industry: Retail Mall Owner
Company Size: Small (annual revenues of less than $50 million)

"CVM Associates’ support of the arts is a reflection of our dedication and commitment to the community. The results have had an immeasurable impact on us personally and professionally and filled us with a sense of pride."
                - Neil J. Rudolph, Executive Vice President

Objectives
To increase sales by attracting visitors to the mall, to broaden awareness of the arts and to enhance the quality of life in its operating community.

Process

• CVM Associates, the real estate company and owner of Crabtree Valley Mall, began supporting the arts in 1995 as part of the mall’s extensive renovation and expansion strategy.
• In 1995, the company hosted a silent auction in the mall that raised funds for the North Carolina Museum of Art, Raleigh, North Carolina. In 1997, it donated funds to underwrite the design and production of a promotional brochure for the museum, which included the mall’s name and logo.
• From 1996-1998, CVM leased mall space, at below market rate, to Enloe High School students for the operation of Eagle Gallery, a gallery that sold art created by local students.
• CVM also sponsored a local artist to design a wolf sculpture for the Raleigh Arts Council’s Red Wolf Ramble, an exhibition of individually-designed fiberglass wolf sculptures displayed throughout the community. Proceeds from the auction of these sculptures were donated to the Raleigh Arts Council and other not-for-profit organizations.

Results
Since the company began its involvement with the arts, mall sales have grown at twice the national rate. CVM Associates has also received extensive media coverage for its arts-related activities and has received many awards. Additionally, its commitment to the arts has encouraged mall merchants, employees and storeowners to support the arts.

« back to Case Studies