clock menu more-arrow no yes

Filed under:

Gentrification Watch

New, 9 comments

A group of Bushwick artists wants to go where few artists have gone before: the real estate world. Studio rents are rising, and in order to not be pushed out by further gentrification and development, a group led by the painter Jules de Balincourt plans to invest in real estate to create permanent affordable work space. By themselves, the individual artists can't afford to buy a warehouse, but by pooling their money and splitting costs, they hope to make it work. They're currently working with lawyers, brokers, and developers to finalize a plan. [WSJ]