Artspace plans Roanoke artist housing community

Roanoke developer Ed Walker first tried to lure Artspace, a Minnesota-based ​​nonprofit real estate developer for the arts, to Roanoke for an early 2000s redevelopment project, but Artspace essentially ghosted him.

“It’s very, very, very, very difficult to get Artspace’s attention and to get them interested in a community,” Walker says. “It’s like trying to date somebody that just isn’t interested.”

Artspace sure seems to be swiping right on Roanoke these days, however.

On April 18, Walker held a celebration marking the first anniversary of his Riverdale mixed-use development, where, as part of an agreement with Roanoke’s city government, he plans to invest $50 million through 2040 to redevelop the 120-acre former industrial site into residences, offices, retail outlets and eateries.

Appearing at the event were Artspace representatives who had been exploring bringing a residential community for artists to Riverdale, with up to 44 private studio spaces and up to 67 live/work housing units for artists who make up to 80% of the area median income, which is $48,350 for a one-person household. Shared areas, like gallery space, a clay studio and rehearsal spaces, could also be included.

“This potentially could be our very first actual brick-and-mortar project in Virginia,” says Kelli Miles, an Artspace project manager.

Monthly rents would range from $480 for an efficiency to $617 for a two-bedroom apartment, according to Artspace Senior Vice President Wendy Holmes — “so, very affordable for [the Roanoke] market.” Artspace, which will own the property, will likely hire a local property management company to oversee it.

Next, Artspace will identify sources for about $800,000 in pre-development funding for the project, which could cost $12 million to $20 million, coming from a mix of public and private funding, Holmes says. The earliest construction could begin is 2026.

Founded in 1979, Artspace has developed 58 affordable housing and creative spaces for artists in 22 states.

Since last summer, Artspace representatives have held meetings with Roanoke-area cultural leaders, city officials and business leaders, including executives from Carilion and Virginia Tech, to talk about the project and potential financing.

“Ed is true to his word,” Holmes says. “He knows how to bring all these people together.”

Making sure artists can afford housing is a way to keep them in the community, according to Douglas Jackson, Roanoke’s arts and culture coordinator. “I think it is economic development,” he says.