Api overview 10 09

ARTSPACE PROJECTSAmerica’s leading nonprofit developer for the arts

Monday, June 7, 2010

http://www.artspace.org

http://www.artspace.org

ABOUT ARTSPACE• Established in 1979

• Recognized national leader in arts facility development

• 25 completed projects in 12 states

• 10 projects in predevelopment in 7 states

• 886 affordable live/work units serving more than 2,000 artists

• 600,000 sq. feet (55,700 sq. meters) of commercial space

• Consulting in USA, Canada, China, England, Netherlands, Serbia


OUR MISSIONis to create, foster, and preserve

affordable space for artists and arts organizations


OUR PROGRAMS

• Property development

• Asset management

• National consulting


OUR PROJECTS

• Help communities reclaim neighborhoods that face redevelopment challenges

• Are usually located in areas with vital artist communities

• Often involve buildings or land with significant historical context

• Require strong, committed community leadership


OUR PROJECTS

• Typically take 3 to 5 years to complete

• Are fully funded before construction begins

• Are financially self-sustaining

• Are owned and operated by Artspace to ensure that they remain permanently affordable

Franklin Arts CenterBrainerd, Minnesota


OUR PROJECTS• Create and preserve space

for the creative community

• Help cities retain artists and enhance their cultural vitality

• Build safer, more attractive neighborhoods

• Act as catalysts for economic development


MTBillingsWhitefish WY

CasperSDYanktonSioux Falls

NDMinot

IACouncil Bluffs____________________

Des MoinesSioux City

AZAjoTucson NM

Taos

NVReno____________________

Reno

TXGalvestonHouston____________________

AustinEl PasoGeorgetownHouston

ALMontgomery

LANew Orleans

KSSalina

OKCordell

VALeesburgMartinsville

NCCharlotte

SCGreenville

PAPittsburgh____________________

Scranton____________________

EastonPhiladelphiaWilkes-Barre

NYBuffalo____________________

New YorkPatchogue____________________

AlbanyChathamHuntingtonSyracuse

DCWashington

CTBridgeport____________________

Hartford

NJCamdenHobokenOrangeTrenton

MDMount Rainier____________________

BaltimoreColumbiaFrederick

FLFort Lauderdale (2)____________________

Tallahassee____________________

HollywoodMiamiSarasotaTampa

WASeattle (3)____________________

Everett____________________

AuburnOlympia

ORPortland____________________

Portland

CASanta Cruz____________________

MontereySanta Cruz____________________

ChicoLong BeachLos AngelesOntarioPittsburgPomonaSacramentoSan DiegoSan FranciscoSan JoseSanta AnaSanta MonicaVentura

COAuroraDenverLovelandWestminster

AKAnchorage

HIHonolulu

ILChicago____________________

ElginWaukegan___________________

BerwynGalesburgFreeportMacombPeoriaRockfordRock Island

WILa CrosseSt. Croix FallsStoughton

MIDetroitGrand RapidsJackson

INIndianapolisMichigan City

OHHamilton____________________

ClevelandColumbusMansfieldToledo

MNBrainerdDuluthFergus FallsMinneapolis (3)Saint Paul (3)____________________

Minneapolis (2)

Albert LeaLittle FallsMinneapolisNew UlmSt. Croix ValleySaint Paul

Consulting (2004-2009)

Projects in Development

Projects in Operation

Artspace at Work in the U.S.: 2009


OUR METHODS


ADAPTIVE REUSENorthern and Tilsner Warehouses / St. Paul, Minnesota

52 and 66 live/work units in two historic warehouses (opened 1990, 1993)


ADAPTIVE REUSEHennepin Center for the Arts / Minneapolis, Minnesota9 dance studios, offices of 17 arts organizations in 1888 Masonic temple (opened 1997)


ADAPTIVE REUSEElder Street Artist Lofts / Houston, Texas

34 live/work units in 1924 municipal hospital (opened 2005)


NEW CONSTRUCTIONArtspace Tannery Lofts / Santa Cruz, California

100 affordable live/work residences in two buildings (opened 2009)


NEW CONSTRUCTIONArtspace Hiawatha Lofts / Seattle, Washington61 live/work units, 5,000 square feet of commercial space (opened 2008)


OLD + NEWTashiro Kaplan Artist Lofts / Seattle, WashingtonThree new stories added to historic Pioneer Square building (opened 2004)


OLD + NEWArtspace Buffalo Lofts / Buffalo, New York

60 live/work units: 36 in historic factory, 24 new construction (opened 2007)


BIG CHALLENGESShubert Theater / Minneapolis, Minnesota

Heaviest building ever moved on rubber tires (1999)


BIG CHALLENGESMinnesota Shubert Center / Minneapolis, Minnesota

Two historic buildings (Hennepin Center for the Arts, Shubert Theater) joined by new Great Hall(construction begins 2009)


BIG CHALLENGESPS109 / East Harlem, New York

90 residential units, space for Latino cultural groups (construction begins 2010)


SMALL CHALLENGESChicago Avenue Fire Arts Center / Minneapolis, Minnesota

Adaptive reuse of former silent movie theater (construction begins 2009)


SPACE


FOR LIVINGMount Rainier Artist Lofts / Mount Rainier, Maryland

44 live/work units, 7,000 square feet of commercial space (opened 2005)


FOR LIVINGTashiro Kaplan Artist Lofts / Seattle, Washington

50 live/work units, 15 galleries, 12 studios, offices of county cultural agency (opened 2004)


FOR LIVINGSwitching Station Artist Lofts / Chicago, Illinois

24 live/work units, enclosed courtyard (opened 2003)


FOR WORKINGTraffic Zone Center for Visual Art / Minneapolis, Minnesota

24 studios for mid-career artists in historic warehouse


FOR WORKINGNorthern Warehouse / St. Paul, Minnesota52 live/work units, two floors of commercial space (opened 1990)


FOR EXHIBITINGArtspace Sailboat Bend Lofts / Fort Lauderdale, Florida

37 live/work units, three-level gallery and community room (opened 2007)


FOR EXHIBITINGWashington Studios / Duluth, Minnesota

39 live/work units, community center operated by City of Duluth (opened 1995)


FOR PERFORMINGIllusion Theater

Hennepin Center for the Arts / Minneapolis, Minnesota


FOR LEARNINGDance Institute



FOR FAMILIESFrogtown Family Lofts / St. Paul, Minnesota36 live/work units, all with two or three bedrooms (opened 1992)


FOR ARTS ORGANIZATIONSSierra Arts

Riverside Artist Lofts / Reno, Nevada


FOR ARTS ORGANIZATIONSJames Sewell Ballet



FOR ARTS-FRIENDLY BUSINESSESBev’s Wine Bar

Traffic Zone Center for Visual Art / Minneapolis, Minnesota


FOR ARTS-FRIENDLY BUSINESSESAll City Coffee

Tashiro Kaplan Artist Lofts / Seattle, Washington


FOR COMMUNITIESArtspace Hiawatha Lofts / Seattle, Washington61 live/work units, 5,000 square feet of commercial space (opened 2008)


QUALITIES


LARGE WINDOWSSpinning Plate Artist Lofts / Pittsburgh, Pennsylvania

37 live/work units in historic automobile dealership (opened 1998)


OPEN FLOOR PLANSNorthern Warehouse / St. Paul, Minnesota

52 live/work units, 2 floors of commercial space (opened 1990)


HIGH CEILINGSTilsner Warehouse / St. Paul, Minnesota

66 live/work units (opened 1993)


COMMUNITYSwitching Station Artist Lofts / Chicago, Illinois

Resident artists landscape the grounds


ACTIVITYFirst Thursday Artwalk

Tashiro Kaplan Artist Lofts / Seattle, Washington


AFFORDABILITY

89% of Artspace live/work units meet or exceed the U.S. Department of Housing and Urban Development’s standard for Section 42 affordable housing.

Artspace Buffalo LoftsBuffalo, New York


MONEY MATTERS


SOURCESSOURCE! AMOUNT! PCT.!

Public Sources!

Federal low income housing tax credits! $ 6,592,060! 41 % !

State low income housing tax credits! $ 2,796,404! 17 %!

Federal historic tax credits! $ 1,678,775! 10 %!

HOME funds ($900,000 from state, $400,000 from city)! $ 1,300,000! 8 %!

Community Development Block Grant (city)! $ 300,000! 2 %!

Federal allocation! $ 250,000! 2 %!

Private Sources!

Private sector (philanthropic gifts)! $ 1,400,000! 9 %!

First mortgage! $ 1,200,000! 7 %!

Deferred developer’s fee! $ 670,944! 4 %!

TOTAL! $ 16,188,183! 100 %!

Artspace Buffalo Lofts / Buffalo, New York


OTHER SOURCES

• Tax increment financing

• Housing trust funds

• Easements

• State cultural facility grants

• Economic development initiatives

• Taxable and tax-exempt bondsRiverside Artist Lofts / Reno, Nevada


USES

Artspace Buffalo Lofts / Buffalo, New York

CATEGORY AMOUNT PCT.

Site acquisition (building and land) $ 600,000 4%

Construction costs $ 11,678,581 72%

Professional fees (architect, engineer, surveyor, etc.) $ 947,623 6%

Construction interim costs $ 250,500 2%

Permanent financing $ 152,000 1%

Soft costs (appraisals, studies, consultants, etc.) $ 123,500 1%

Developer fee (mandated by state law) $ 2,012,831 12%

Legal costs $ 140,000 1%

Reserves $ 284,620 2%

TOTAL $ 16,189,655 100%


BEFORE AND AFTER


BEFORETilsner Warehouse / St. Paul, Minnesota


AFTERTilsner Warehouse / St. Paul, Minnesota


BEFOREJefferson Davis Hospital / Houston, Texas


AFTERElder Street Artist Lofts / Houston, Texas


ON THE HORIZON


HAWAI‘IAdult students at halau hula in Honolulu


NEW ORLEANSMardi Gras Indians in costume


NORTHERN PLAINSDancers at 40th annual United Tribes powwow

Bismarck, North Dakota



Documents

Api overview 10 09