InterAct Theatre Company, PlayPenn, Simpatico Theatre Project, Azuka Theatre and Inis Nua Theatre are all moving into a new home at The Drake apartment building, 1512 Spruce St., in the former University of the Arts dance space.

The new theater will include a 128-seat main stage, a 75-seat second stage and two lobbies, and will be used as an arts hub in addition to a performance space. It will be the only Philly venue home to multiple theater companies.

InterAct holds the 15-year lease at The Drake, and will rent it out to the other companies.