To redevelop the property, Graham will receive a $150,000, below-market rate loan from the Arts District Loan Fund; a $35,000 loan forthe building's interior renovation; and a $40,000 grant for use in thebuilding's exterior renovation.
The funds will help Graham purchase and refurbish the 5,900-sfinto an art studio, a ceramics art workshop/gallery, a commercial kitchen, dance studios, a sculpture garden, and an outdoor patio--complete with a carousel patio--that will be appropriate for small events/gatherings.
The property is viable for art-related use with minimal refurbishment.
The ground floor unit has high ceilings and the property already is zoned for living space/commercial.
Because of its prime location in the area that has been slated for anarts district, the city long ago identified the property as a spacewith great potential for a multi-tenant arts facility.
Currently, a construction company uses the space as an office. Employees of the construction company live in the second floor lofts.
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