Artscape and Castlepoint Studio Partners have announced their intention to partner on the creation of 70 new affordable artist live/work studios at 158 Sterling Road, located on the grounds of the former Tower Automotive sheet-casting facility in the Junction Triangle neighbourhood.
The partnership would see Artscape purchasing up to 70 live/work studios from Castlepoint, ranging in size from 550 to 1,100 square feet. A key goal of the partnership is to create a self-sustaining live/work development that provides both ownership and rental housing opportunities for a range of incomes to professional artists, and to ensure that the studios in the development remain below-market and dedicated to the arts community in perpetuity.
“We are excited about the possibility of partnering with Castlepoint to anchor vital artist work and living space in the Junction Triangle and help grow the already thriving arts community here,” said Tim Jones, president and CEO of Artscape.
“We’re interested in building a truly diversified community on Sterling Road and the addition of artist live/work space will be a tremendous part of creating a healthy, sustainable neighbourhood,” said Alfredo Romano, president, Castlepoint Studio Partners.
The self-financing model of affordable artist live/work studios within a condominium complex has already proven highly successful at Artscape Triangle Lofts in the Queen West neighbourhood. This partnership between Artscape, condominium developer Urbancorp, the City of Toronto and community activist group Active 18 opened in 2010. The 56,000-sq.-ft. Artscape Triangle Lofts project is now home to 68 artists and their families.
The former industrial lands on Sterling Road already employ a number of artists and creative professionals, including Cirque-ability, Tomorrow/Yesterday gallery, Julian Armand, Somewhere There, and Brothers Dressler.