Artists have purchased Humphreys Street Studios, with help from a developer and the city:
Cristina Todesco, a theatrical set designer, wasn’t too concerned when she first found out her Dorchester studio was going up for sale. But when a big developer started sniffing around, she began to feel uneasy. It was 2019, the Boston real estate market was hot, and it seemed a foregone conclusion that anyone who purchased the property at 11-13 Humphreys St. would either raise rents or raze the building.
But that feeling changed as time passed and the property, which was valued at $3.1 million, remained on the market. The 40-odd artists who rented studios at Humphreys Street began to wonder: could they find a way to purchase the building themselves?The artists, inwith the mission-driven developer New Atlantic Development, closed on the property in early November to the tune of $2.8 million.
Boston’s chief of arts and culture, Kara Elliott-Ortega, sees it as a first for her office as well. “As long as I've been with the city, which is seven years, in a situation of crisis like that, we haven't gotten to the solution of actually having the artists own the building,” she says. “It was enough to help bring on other investors [and] grow confidence that this is something that can happen,” she says. “It was enough to close the gap on that part of the acquisition. And so I think it's a great example, in the sense that the city's money was really leveraged super efficiently to do this bigger project.”
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