Crane Arts: Financing Artistsâ Workspaces

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Culture and Community Revitalization: A SIAP/Reinvestment Fund Collaboration—2007-2009
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Art Practice
Urban Studies and Planning
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The Reinvestment Fund
Social Impact of the Arts Project (SIAP)
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This brief tells the story of Crane Arts, the conversion of Crane Plumbing Companyâ s 1905 factory and warehouse in Philadelphia's Old Kensington, to affordable artist studio and gallery space. In spring 2004 two artists and a developer--Crane Arts LLCâ purchased the property and began the challenge of rehabilitation of a century-old factory in a former manufacturing district. Along the way, they heard about TRFâ s lending activities, including commercial real estate in urban neighborhoods. The Crane Arts project was a perfect fit for TRF, which views the arts as critical to the health of a community and invests in projects that have the potential to catalyze revitalization in Philadelphia neighborhoods. The success of Crane Arts has encouraged TRF to finance other artist centers in Philadelphia.

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2007-08-01
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The Culture and Urban Revitalization project was a collaboration between SIAP and The Reinvestment Fund (TRF), a community development financial institution, with support by the Rockefeller Foundation.
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