A new report issued by ArtScape states that its $10-million capital fundraising campaign for Daniels Spectrum helped make 2012 the company's most successful fundraising year in its history.
Daniels Spectrum, located in the Regent Park neighbourhood, was a $38-million development, making it a "major catalyst for the $1+ billion revitalization of Regent Park," the report states. Located at 585 Dundas St. East, the 60,000 sq. ft building opened last year to support seven non-profit arts and social-mission organizations as well as to become a central events space in the neighbourhood.
The building helped Artscape, a non-profit that provides affordable studio and housing for artists and their families, increase revenue to more than $2-million, or 33 per cent in one year. The building is built to LEED silver standards.
Beyond Daniels Spectrum, the report highlights the success of its many creative placemaking initiatives. Yonge Street highlighted some of this recently in a
profile on creative placemaking, which is the intentional use of the arts to transform a neighbourhood or city.
The report states that Artscape's 1,348 tenants held 1,720 events in Artscape buildings and around the city in 2012.
"We learned that our spaces help to build Artscape tenants’ profiles and allow them to build their practices. Our research into market rents revealed that our 2012 subsidy to our tenants equalled close to $2.5-million. And with more staff and volunteers than ever before, we are better equipped to deliver greater impacts and to create the conditions in which artists can thrive," the report states.
Read the full report
here.
Original Source: Artscape
By Tyler. Chris Tyler from Toronto, Canada [CC-BY-SA-2.0], via Wikimedia Commons