As Charles Town grew, so did the community's cultural and social opportunities, especially for the elite merchants and planters. The first theatre building in America was built in 1736 on the site of today's Dock Street Theatre. Benevolent societies were formed by different ethnic groups, from French Huguenots to free people of color to Germans to Jews. The Charles Towne Library Society was established in 1748 by well-born young men who wanted to share the financial cost to keep up with the scientific and philosophical issues of the day. This group also helped establish the College of Charles Towne in 1770, the oldest college in South Carolina. Until its transition to state ownership in 1970, this was the oldest municipally supported college in the United States.