Madison, Wis. – Nov. 24, 2008 – A $130,000 loan from Forward Community Investments to Common Wealth Development finances early costs on a long-anticipated arts incubator on Madison’s east side.
Financing supports the transformation of the Garver Feed Mill on Atwood Avenue into a community arts center serving an estimated 50 artists and 36,000 annual visitors.
“Sustaining our arts community requires a commitment to local artists,” said Salli Martyniak, Forward Community Investments president. “Combining affordable space for artists and business assistance to help them succeed, this project is a positive step in that direction.”
Marianne Morton, Common Wealth Development executive director, envisions a place where local artists can join with children and adults in creative discovery. Workshop rooms, performance venues, galleries and other amenities create space for this interaction.
“Our vision is to create a phenomenal synergy between artists and the local community,” said Morton. “We hope this facility will become one more part of the diversity and arts dynamism that makes Madison so unique.”
This summer, the Madison City Council approved accepting Common Wealth Development’s redevelopment proposal for the vacant Garver Feed Mill building and directed city staff to negotiate a development agreement.
Partnership with Forward Community Investments ensures timely access to hard-to-get predevelopment financing.
“Access to loans that cover upfront costs is critical for nonprofits,,” said Morton. “With affordable financing and a progressive mission that aligns with ours, Forward Community Investments has been a great fit.”
Construction on the Garver Arts Facility is expected to begin in 2010. Planned features include:
- Three-story atrium, indoor/outdoor café, gallery, gift shop, performance space and meeting rooms
- Artist opportunity: 40 affordable, well-designed studios, business assistance, shared equipment, gallery space and workshop rooms
- Public opportunity: art-in-progress viewing, open galleries, performances and class enrollment
- Special events: gallery talks, art demonstrations, tours and artist-in-residence workshops
About Common Wealth Development:
Common Wealth Development was established in 1979 to build community. It supports low- to moderate-income people through innovative projects that enhance arts, affordable housing, business and youth opportunities.
About Forward Community Investments:
Forward Community Investments expands the financial capacity of Wisconsin nonprofits through low-cost flexible financing and technical assistance.
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Garver Feed Mill Rendering
