Nicholas Jensen, previously a program manager for the Minnesota Historical Society, takes the role after the retirement of longtime leader JoAnne Coombe.
The handoff, from developer Sherman Associates, marks the end of a decade-plus process that turned an ailing landmark into one of the city's top venues for the arts.
The selection committee said the nonprofit submitted a proposal below the required minimum rate and its proposed use was incompatible with ingress/egress needs and upcoming projects.