PRESS
RELEASE
FOR
IMMEDIATE RELEASE Contact:
Meredith Baumann
June
16, 2005 617-918-4351
Mayor
Menino Welcomes Artists to New Home at Midway
Cuts
Ribbon on Fort Point's Artist Live-Work Space Success Story
Mayor
Thomas M. Menino joined with the new residents of Midway Studio's
to celebrate the much-anticipated opening of the newest artist
live/work project in the Fort Point district. Together with
Boston Redevelopment Authority Director Mark Maloney, Cheryl
Forte of the Fort Point Cultural Coalition (FPCC), Bob Culver
of MassDevelopment, Michael Hatfield of Bank of America, and
elected officials, Mayor Menino welcomed new residents to
the 89-unit live/work space. Officials also applauded the
spectacular rehabilitation of the historic Fort Point industrial
building.
“Today
is an exciting day for the Fort Point District. We have seen
dramatic change here in recent years and we are excited to
watch this community continue its rise,” said Mayor Menino.
“We are thrilled that the artists who pioneered this neighborhood
will always have a place to call home in Fort Point.”
Midway
Studios becomes the newest and largest building to provide
permanent, affordable artist space in the
city of Boston .
The live/work rental studios, located on floors two through
six, are designed for build out to accommodate a broad range
of working styles. The studios range in size from 914 square
feet to 2,325 square feet. All residents are and will continue
to be working artists certified through the Boston Redevelopment
Authority's Artist Space Initiative.
Midway
Studios comprises approximately 200,000 square feet of mixed-use
space in three contiguous warehouse buildings located at 15
Channel Center Street (formerly 24-38
Midway Street ). In addition to the
live/work studios, the project includes two rehearsal spaces,
a gallery, a café and office/retail space for non-profit
arts organizations and arts-related businesses.
The
project was developed by the Fort Point Development Collaborative
(FPDC), a joint venture of Keen Development Corp. and the
Fort Point Cultural Coalition, Inc. FPDC was established in
April 2003 to foster the creation of the arts by developing
permanent, affordable artist live/work space and cultural
facilities in Boston 's Fort Point neighborhood. Midway Studios
is FPDC's first development.
“This
project represents the culmination of a shared vision. For
the Mayor and the city, for the landowner, for us as the developers,
and for the city's artists – this project is a win-win,” said
Cheryl Forte of the Fort Point Cultural Coalition (FPCC).
“Midway answers the Mayor's call to create both affordable
housing and permanent artist housing. It also advances our
common goal to expand a vibrant and thriving neighborhood
here in Fort Point.”
Working
with landowner Beacon Capital Partners, the project is hailed
as a model for development, where parties came to the table
to create a project that met the needs of a wide ranging constituency.
FPCC & Beacon were recently recognized by the Arts &
Business Council of Greater Boston with an Arts & Business
Partnership Award. In addition, Midway Studios was a finalist
for the annual J. Timothy Anderson
Awards for Excellance in Historic Rehabilitation.
Midway
will provide 89 permanent artist live and work spaces. As
such, it is the latest success story to emerge from the Mayor's
Artist Space Initiative. Th e BRA Artist Space Initiative
has been working with developers and arts organizations to
support and encourage the development of permanent affordable
space for artists, for sale and for rent, in all of Boston
's neighborhoods.
“
The Mayor has long realized the importance of the artist community
as a invaluable contributor to the health and vitality of
our city's economy. The city's creative industries, which
includes the working artists who live here at Midway, provide
30,000 jobs and generate $10.7 billion annual revenues for
the city,” said BRA Director Maloney. “ With the opening of
Midway, we are creating a talent incubator that will enable
these artists to collaborate with each other, tap into a the
wide range of talents here, and build connections and contacts
that will help these artists grow as small businesses.”
The
project, which includes a significant level of affordability,
was completed with limited levels of public subsidy, including
tax exempt financing through MassDevelopment and taxable financing
fron Bank of America and Citizen's Bank.
"MassDevelopment
is committed to supporting housing and economic opportunity
for every citizen in every sector of the economy. We are excited
to be a part of mixed-use development supporting the arts
community in this vibrant neighborhood," said MassDevelopment
Director Bob Culver.
"The
Midway Studios development is the result of a
creative partnership for
the preservation
of the
rich diversity
of the Fort Point District by providing affordable live-work
space for Boston 's
artists," said Maria F. Barry, Bank of America Northeast
Community Development Executive. "It has been particularly
rewarding working with our partners at the Fort Point Cultural
Coalition and Keen Development Corporation in this historic
renovation to ensure that Fort Point continues to thrive through
the presence of the numerous artists and arts organizations
that helped make today a reality."
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