X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MINNEAPOLIS-Artspace Projects, the Minneapolis-based national nonprofit real estate developer for the arts, received grants totaling $310,000 from three national foundations, the non-profit organization said today.

The grants include:

• $160,000 over two years from the New York-based Surdna Foundation to support Artspace’s live/work development efforts in partnership with local organizations in economically depressed areas;

• $100,000 from the Andy Warhol Foundation for the Visual Arts, also based in New York, to help Artspace identify and develop a new artist live/work project in that city; and

• $50,000 from the Washington, D.C.-based Fannie Mae Foundation for general operating support.

The grants will help the organization to find new opportunities to help artists and to fund the exploratory that must be done for each proposed project, which is a major challenge of nonprofit real estate development.

Since entering the development field in the late 1980s, Artspace has completed 12 projects–three each in Minneapolis and Saint Paul, and one each in Chicago; Duluth, MN; Galveston, TX; Pittsburgh; Portland, OR; and Reno, NV.

The organization currently has projects under construction in Seattle; Bridgeport, CT; and Fergus Falls, MN. Artspace also has projects in predevelopment in Minneapolis; Houston; Fort Lauderdale, FL.; Jackson, MI.; Ajo, AZ; and Prince George’s County, MD. Its real estate portfolio is valued at more than $100 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.