The Artspace Organization and the Pa’i Foundation has proposed a joint venture to create of a nine-story “artist housing” building at 1025 Waimanu Street in Kakaako. The concept would be to create approximately 80 lofts where artist can live, work and showcase their art in one location. Units would be rented to artists earning 50 to 60 percent of Honolulu’s median income, which equates to approximately $40,000 for a single person and $61,800 for a family of four. Rents would be between $965 per month to $1390 per month for a one or two bedroom unit with a large loft space for working. The project has been tentatively named Ola ka ‘Ilima Artspace Lofts.
Vice president for Artspace, Cathryn Vandenbrink, stated, “Kakaako is going to go through a tremendous amount of change in the coming years. It would be wonderful for artists to have a permanent seat at the center of the community. We will work to assemble financing for the project while engaging with the creative community to refine the building program. Artspace is very excited to be working in Honolulu to create permanently affordable space for artists and their families in Kakaako.” Kumu hula and executive director for the Pa’i Foundation, Vicky Holt Takamine, added, “I expect that our presence in Kakaako will enrich the community and contribute to a vibrant, exciting artistic and culturally grounded sense of place.”
Artspace is a national non-profit organization founded in 1979. Since then, the non-profit has helped to create a total of 32 similar projects as the one they are proposing in Kakaako in 14 different states around the country. Approximately 1,000 artists live and work in these “artist housing” buildings. In most cases, Artspace will transform a hotel, school warehouse, hospital or department store into rental lofts for artists.
Source: Honolulu Star Advertiser, 2-18-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
