The Artscape Triangle Lofts in Toronto's Queen West neighbourhood / photo courtesy of Artscape
Today, the not-for-profit Artscape announced that it intends to work with a condo developer to create 70 new affordable artist live/work studios at 158 Sterling Road, located on the grounds of the former Tower Automotive sheet-casting facility in Toronto’s Junction Triangle neighbourhood.
The partnership with Castlepoint Studio Partners would see Artscape purchasing the live/work studios from Castlepoint, ranging in size from 550 to 1,100 square feet. The studios would then be available for both ownership and rental at below-market prices to members of the arts community.
This isn’t the first time Artscape has partnered with a condo developer. In 2010, its 56,000-square-foot Triangle Lofts were opened in Toronto’s Queen West neighbourhood in partnership with Urbancorp, the City of Toronto and community activist group Active 18. The Junction project promises to be similar in terms of structure and scale.
Castlepoint purchased the old Tower Automotive facility in 2007. According to the Toronto Star, its development of the area is to include 700-plus residential units as well as substantial commercial space.
Artscape representatives say that once Castlepoint has received the necessary approvals from the city, they will enter into a legal agreement outlining the partnership in further detail.
