WYNC is reporting that the city is setting up a $100 million fund to help artists purchase the spaces in which they live and work. In announcing the fund’s creation, City Housing Commissioner Sean Donovan noted that artists deserve to share in the wealth that their pioneering efforts create. “If we believe as I think many of us do, that artists not just need affordable housing, but actually create real estate value, what we’re trying to do is create a fund that would actually leverage some of that, bring in investment dollars to follow artists, and allow them, for reduced prices, to buy their space.” Remember the discussion we had about the fate of the artists on South 11th Street?
$100 Million Fund for Artist Housing [WNYC]


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  1. RE: how to decide who is an artist: very easy. When people file their taxes as an artist ( I do so I know) they put that down as their profession –and declare and pay taxes on that income. Like any small business! The legitimate ones are paying taxes and consider it their job.

  2. RE: how to decide who is an artist: very easy. When people file their taxes as an artist ( I do so I know) they put that down as their profession –and declare and pay taxes on that income. Like any small business! The legitimate ones are paying taxes and consider it their job.

  3. I crack up so hard when I read “silly yuppies… you wouldn’t know art if it ate you.”

    I *wrote* that previous post, and I am an artist who shows in a decent NYC gallery & an art professor at a prestigious institution that shall remain nameless.

    That doesn’t necessarily mean that I know what art is, either, but–neither did Duchamp. the whole “silly yuppies” dismissal is really outta line.” The redirect-your-venom thing applies.

  4. You have only to look at Soho to see the benefits of having artists go into an area. Now most artisits can barely afford to walk down the street in Soho, all the great little shops are gone or taken over by the chains. I worked in Soho starting in the 80’s and artists were already being forced out of the lofts they fixed up at their own costs and with the blessings of the landlords. Artists were the first ones to take a big interest in Dumbo too, then Williamsburg. Spaces were big and cheap. In every case gentrification followed. And again- why complain if artists get something- look how many other groups do and everyone complains about them too.

  5. Actually, artists did add more value, way more value, to DUMBO way before Torres. Peeps were squatting there for years, then the Wooster Group put St. Anns on the map, forced Walentas to keep it going rather than build a high rise, and he’s been reaping the benefits ever since. Artists squatted 70 Washington for years up until the conversion. Walentas offered them deals on everything. Torres, et al. swept in on the coattails. Saw David Bowie, Bjork and Sting at a Wooster benefit at St. Anns two months ago. Now THAT boosts value. Silly yuppies….these comments so revealing. You wouldn’t know art if it ate you.

  6. who’s “you”? there’s a tendency on this site for people to address some reading audience of yuppie-asshole-investment types– excusing themselves, of course. I don’t really think that anyone reading this site is turning DUMBO into an “investment playground.” Save your venom for a more appropriate subject.

  7. Enough with the trust fund excuses. I don’t buy that. Sure, some artists have em, but as an ‘argument’ it’s a complete copout.

    And who ever said ‘artist’ means ‘visual only’? Try painters, sculpturers, writers, designers, musicians…CREATIVES who are trying to start something with, and from, nothing.

    Again, ‘where’s your Dumbo now, moses?’ without the ‘creatives’ who moved there first, so it could be safe for you to turn into an investment playground?

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