COMMUNITIES PUSH TO CREATE PLACES WHERE ARTISTS CAN FLOURISH.

• Author: Peterson, Eric
• Position: CREATIVE INDUSTRIES

Once considered too touchy-feely for economic development, the arts are now at the vanguard of Colorado's strategy for growth. Arts advocates have gotten a seat at the table for policy discussions in communities from Steamboat Springs to Mancos.

There's a good reason for that: The difference between a vibrant downtown and a desolate one can often be tied to the presence of local creatives.

But there's a stiff headwind: the skyrocketing price of Colorado real estate. The median home value in the state is about $350,000, according to data from Zillow. That's up almost 10 percent in the last year, outpacing wage growth by a wide margin.

High housing costs are especially tough on artists, especially young artists struggling to establish a career. But community leaders across the state have increasingly pushed for projects that cater to creatives.

With 30 live/work spaces and a shared gallery, Artspace Loveland has had a long waiting list since it opened alongside the abandoned 1890s-era Loveland Feed and Grain building in the Northern Colorado city in early 2016.

"It's a very interesting idea--and the price is right," says Mary Connole, the resident manager and a writer/photographer. "Being broke is one commonality (among the residents), and commitment to the arts is the other."

The impact of the Artspace project extends beyond providing 30 wallet-friendly units. "It really cleaned up the ugliest, most blighted corner of downtown Loveland," says Jeff Feneis, director of development at the Loveland Housing Authority. There are plans to reuse the old Feed and Grain as retail and studio space.

The development's owner, Artspace, is a Minneapolis-based nonprofit that's in the thick of the issue, both in Colorado and nationwide. Since 1990, it has completed more than 35 projects with about 2,000 ive/work units.

"We serve the workforce population," says Shannon Joern, Artspace vice president, strategic advancement. "When we are creating live/work housing, we are typically using that low-income housing tax credit [LIHTC] tool that has income and stewardship requirements." That means residents must make between 30 percent and 60 percent of area median income (AMI), as the federal program requires.

"For the residents a lot of times, this is about the opportunity for creative people to live affordably and focus more time and effort on their creative pursuits," Joern says. "It often allows them to quit one or two of their day jobs and focus on their...