Artspace Projects, Inc. is planning to develop 42 units of affordable live-work housing for artists and creative professionals in downtown Hamilton, Ohio. In the process, Artspace will transform the currently vacant historic building located at 220-224 High Street into a community asset that will provide ground floor space for local non-profit organizations, commercial space for small businesses, and outdoor plaza areas for residents and the community to enjoy.
The Artspace Hamilton Lofts project will complement the historic rehabilitation occurring at the neighboring Mercantile Lofts. The completion of these adjacent mixed-use projects will advance economic development efforts on High Street downtown through a concentration of residential density. That density will contribute to a sense of vibrancy and happening as well as attracting further retail and business options. The Artspace Hamilton Lofts project will assist in the continued economic revitalization of Hamilton’s downtown and riverfront area. Utilizing the Arts to spur economic development is a strategy that has worked across the U.S.
Background of the Site:
In October of 2006, Artspace Projects, Inc. was invited to Hamilton to perform a Preliminary Feasibility
visit to assess the viability of an affordable, mixed-use, arts-based live/work project within close proximity of the Central Business District. While few cities with a population less than 100,000 could support an ideal project of 30-35 residential units, a Market Study
quickly determined that Hamilton was an exception.
The Artspace Hamilton Lofts project is proposed in the former Hamilton Center Building located along at 220-224 High Street in downtown Hamilton. The four story building is approximately 16,000 square feet and 42 studio, 1, 2, & 3 bedroom units will be created on four levels.
Funding for the Artspace Hamilton Lofts project is anticipated to come from a variety of public and private sources to include:
- State of Ohio Historic Tax Credits
- State of Ohio, Ohio Housing Finance Agency Low Income Housing Tax Credits
- Philanthropic Sources
- National Endowment for the Arts (Our Town Grant)
What is Artspace Projects, Inc.?
Artspace’s mission is to create, foster, and preserve affordable space for those engaged in creative pursuits, and arts organizations. It pursues this unique mission through development projects, asset management activities, consulting services, and community-building activities that serve artists and arts organizations of all disciplines, cultures, and economic circumstances. By creating this space, Artspace supports the continued professional growth of artists, and enhances the cultural and economic vitality of the surrounding community.
The City of Hamilton and the Hamilton Community Foundation have contracted with Minneapolis-based Artspace Projects, Inc., a leading non-profit real estate developer for the arts with over 9000 dwelling units created in 28 separate projects around the country, including Portland, Oregon; Seattle Washington, DC; and Chicago, IL
Project Website: http://www.artspacehamilton.org/
Artspace Hamilton Lofts Facebook
Artspace Hamilton Lofts Video Tour
Latest Project News:
- The Artspace Hamilton Lofts project was awarded $2.3M in Ohio Historic Tax Credits by the Ohio Department of Development on June 26, 2012.
- Preliminary Unit Floor Plans submitted for review on June 27, 2012.
- The Artspace Hamilton Lofts project was awarded $5.7M in Low Income Housing Tax Credits (LIHTC) by the Ohio Housing Finance Agency on June 12, 2013.
- Construction Plans submitted for review on November 21, 2013.
- Project Summary