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Saturday, October 28, 2006
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Franklin Arts Center secures major piece of funding puzzle
Entertainment Editor The biggest piece of the Franklin Arts Center funding puzzle is in place.
On Thursday, Artspace Projects Inc. landed the major chunk of funding needed to complete the Franklin Artist Lofts, 25 live/work studio apartments in the east wing of the former Franklin Junior High School in Brainerd.
The Minneapolis-based company, which purchases historic buildings and remakes them into arts centers, received $4 million in low-income housing tax credits over 10 years from the Minnesota Housing Finance Agency.
"This is huge in moving it forward," school district representative Paul Bloom said. "There's been a lot of work that has gone into this thing."
Project manager Andrew Commers said Artspace has raised about $7.5 million toward the $8.9 million project. The Brainerd School District likely will officially sell the building to Artspace next summer.
"You know, the Franklin has already become an arts center, with 33,000 feet of leased space," said Wendy Holmes, Artspace vice president for construction and research development, referring to the building's current tenants such as the Crossing Arts Alliance.
"This'll put Brainerd on the map in a big way. There's a buzz out there, and now we'll have the Franklin Artist Lofts as well."
Miller Dunwiddie will begin construction on the lofts in summer 2007 and finish a year later, Commers estimated. In spring 2008, Artspace will begin accepting lease applications and in summer 2008, tenants will move in.
Applicants must make 30 percent to 50 percent of the Brainerd lakes area's median income to qualify for a loft.
Artspace, which started in 1979, operates 18 buildings nationwide, with two under construction. The Franklin Arts Center will be its 21st or 22nd building, Holmes said.
The Franklin will host an open house on Nov. 11.
For more information, consult www.artspaceusa.org.
JOHN HANSEN can be reached at john.hansen@brainerddispatch.com or 855-5863.
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