06/06/2024
Equity Arts in Bloomberg, as a national model for impactful real estate stewarded by the arts! We are honored to be quoted next to leaders, Nia Evans of The Ujima Project in Boston and members of the Community Arts Stabilization Trust (CAST) in San Francisco, both of these organizations influenced our Chicago Model for Sustainable Culture💫
“The arts have always been at odds with real estate. Artists create value, we create wealth, and it gets extracted from us and then we have to leave when the neighborhood changes,” Wieser says. “The very thing that creates the value gets ripped out of it.” By acquiring the building, Wieser is part of a movement of arts nonprofits that are taking a more direct interest in real estate in order to preserve their communities and livelihoods. In Chicago, San Francisco and Boston, these groups are adopting unique organizational and financial structures to survive in overheated real estate markets.
"The model used by Equity Arts, Saldana explains, is a precedent that is designed to prove a theory of value to lenders and funders: Investing in arts-stewarded real estate produces tangible economic value. Commercial funders and lenders don’t typically recognize what makes the arts valuable, like community building and creating neighborhood identity, as providing returns on a balance sheet."
Link to full story in the bio✨
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Thank you to our funders and partners for investing in the power of the creative economy ! Builders Initiative
Art gallery and vintage shop
