A revolving fund that will allow Artspace to respond more strategically and quickly to develop mixed-use affordable housing projects in rural and urban communities across the country.
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Colorado Springs
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The Colorado Springs Downtown Development Authority and Downtown Ventures, a charitable nonprofit, are working with Minneapolis-based Artspace, the nation’s leading developer of artist housing, to bring affordable housing for creatives to the city center.
This fund:
- Provides crucial pre-development funds for flexibility and responsiveness.
- Puts transformative projects into communities with the most need.
- Leverages as much as $120 million in public funding for greater impact.
- Supports partnerships with local stakeholders to ensure equitable community development that meets and serves community needs.
- Enables development of affordable commercial space for the creative sector to ensure retention/growth of wealth-building opportunities for more people.
- Initially, this fund will develop up to 500 new, safe, permanently affordable homes–an approximately 25% increase–developed in BIPOC and marginalized communities.
For more information about Transforming Communities, Transforming Lives, visit the Impact Campaign page.