3rd Ward, the art, design, and educational workspace with sites in Brooklyn and Philadelphia, will close, reports Melena Ryzik of the New York Times. The company’s management and board were not able to negotiate with investors to raise $1.5 million needed for the operating costs for both spaces. According to coowner Jason Goodman, the expansion to the Philadelphia outpost was a necessary measure, but ultimately contributed to the financial troubles of the business. A crowd-sourced investment campaign only garnered $375,000 of the required sum to keep the workspace's doors open. Launched in 2006, 3rd Ward had envisioned creating a space where a community of artists and entrepreneurs could meet and work.