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Key Tasks in Artist Space Development

INTRODUCTION AND OVERVIEW
GET TO WORK
- Flowchart of the Artist Space Development Process
- Key Tasks in Artist Space Development
- Project Phases
FORMING A TEAM
ON LOCATION
FINANCE

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Photo courtesy of City of Asylum/Pittsburgh.

If you have reviewed the flowchart that Jue Wang has created in Section 2.1 then you may already have a sense of how the major phases and core tasks involved in ASD are sequenced and intersect. However, to consider this work in more detail, Wang has assembled a checklist of tasks under the major categories of work entailed in ASD.

Partnerships

Form a project committee and set up executive rules to help guide how the group will work together as artist group/art organization/developer
Form a development team that includes key expertise. Professional services to employ could include an architect, lawyer, financial specialist, accountant, marketing group, management company, etc.
Seek support from and collaboration with other stakeholders, including neighbors, arts organizations, Community Development Corporations, government agencies, etc. You may even consider co-developing an artist space with a community partner as a joint venture.
Establish a legal entity to represent the group developing the space (e.g. form a non-profit corporation, a partnership, a joint venture, etc. Reference Section 3 Forming a Team for further considertations.)
Decide the ownership structure of future occupants (e.g. cooperative, condo, rental, etc. Again, Section 3 Forming a Team can provide additional reference.)

Locating a Site

Understand the project’s space needs and establish criteria for site selection. To build consensus, criteria should be established collectively by the project's core investors of project committee members, artists, and anchor tenants
Search for potential sites as a project committee possibly with the help of a broker or real estate agent
Assess the current condition of a prospective site, such as its structure and/or potential environmental hazards. Check zoning regulations and building codes to assure compatibility of your intended space usage and estimate construction cost. Sometimes, in order to secure site control as soon as possible, only an initial assessment may be carried out before signing the purchase agreement, with more detailed studies to follow. For a thorough assessment be sure it is done collectively by an Architect, Structural engineer, Appraiser, Building Code consultant, and Environmental Specialist.
Secure site control by signing the option or purchase agreement. Site control provides legal rights to purchase the property under specified conditions (e.g. the building inspection meets the specified requirements; the funding for purchase is secured; no environmental hazard has been detected in environmental studies, etc.) Square Feet Chicago provides useful information in regards to buying issues that may arise. (See Further Reading below).
Settle on acquisition purchase. Tasks might include payment; acquiring title to the property; insurance issues, etc. A lawyer and accountant can help with the acquisition process.

Design and Construction

Inspect and analyze the site with the help of an architect, structural engineer, and landscape designer
Provide initial design and develop construction costs for the project. Key people in this process might be your project committee, architect, structural engineer, landscape designer, interior designer
Generate more detailed design and construction drawings (for contractor and building permits). Key people in this process might be an architect, structural engineer, landscape designer, interior designer
With the help of your project committee and architect, choose contractor to execute construction

Financials

Secure funding for Pre-Development tasks (quite often this seed money may come from project commitee's and/or artists' own savings along with developer’s equity investment)
Develop the facility's financial pro forma by calculating its total development costs; as well as its potential income (e.g. from sales, rentals, or other sources of revenue); and its ongoing expenses (e.g. management, maintenance, utilities, etc). Identifying potential funding resources-- ranging from bank or CDFI loans to government grants to tax credit synidication and equity investment from investors-- can further determine financial feasibility of the artist space project.
Use the financial feasibility report to secure additional funding for acquisition, construction, and permanent financing of the project
Be sure to facilitate timely disbursement of any funds to keep project moving on time and on budget
Timely payment of debt after project completion is just as crucial

Legal Issues

Establish legal entities for the development team to begin development process (such as processing documents to file as a corporation or partnership, etc)
Establish structure for ownership and occupancy of facility (see Section 3 Forming a Team for additional information in this regard)
Negotiate contracts for professional services such as with an architecture firm, general contractor, etc.
Negotiate contract to acquire propert
Establish bylaws, regulations, and contracts regarding the sale and/or lease of units within the facility
Determine and mediate any tax related legal issues
Obtain any necessary permits such as for construction; get Certificate of Occupancy, etc.
Respond to any unexpected challenges or emergencies as they may arise

Marketing

Identify and solidify understanding of targeted tenant group
Partners, lenders, or grantors to the project may need to be persuaded of the project's marketability. Be prepared to share data in support of the project's need and appeal
Program marketing strategies using brochures, poster, events, web advertisements, etc
Select tenant(s) and/or buyers, which may include the pre-sale or pre-lease of units
Close sales and leasing of units

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