$100 Million Fund Set Up for Artists

Wednesday, April 05, 2006

Making ends meet may soon become a little easier for artists in the city. The city's housing agency is setting up a $100 million fund to help artists buy the spaces where they live and work. City Housing Commissioner Sean Donovan says the fund will benefit artists who lift real estate values in neighborhoods as they've done in Soho, Tribeca, and Dumbo.

DONOVAN: 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.

REPORTER: Donovan says the fund which is in preliminary stages of development could potentially help thousands of artists.

More in:

News, weather, Radiolab, Brian Lehrer and more.
Get the best of WNYC in your inbox, every morning.

Leave a Comment

Register for your own account so you can vote on comments, save your favorites, and more. Learn more.
Please stay on topic, be civil, and be brief.
Email addresses are never displayed, but they are required to confirm your comments. Names are displayed with all comments. We reserve the right to edit any comments posted on this site. Please read the Comment Guidelines before posting. By leaving a comment, you agree to New York Public Radio's Privacy Policy and Terms Of Use.


Latest Newscast




WNYC is supported by the Charles H. Revson Foundation: Because a great city needs an informed and engaged public


Supported by