Displaced Artists Find New Home In Brooklyn Army Terminal

For many artists and arts-based businesses in New York City, finding and keeping affordable spaces is the biggest challenge they face. A recent article in The New York Times features a project designed to address this problem, a newly opened space in the Brooklyn Army Terminal developed by ArtBuilt Brooklyn, where over 100 artists have gained affordable, long term studio space. LISC provided a crucial $644k loan to finance the project.

"LISC NYC’s loan was critical, allowing us to maintain internal capital reserves at a level that added real stability to the project. At the same time, this loan has broader importance to the field as an example of how loan financing from an innovative lender like LISC can make projects of this type possible. More conventional lenders would have struggled to see the value in our project, but LISC got it immediately!"

— Esther Robinson, Founder of ArtBuilt

Continue to The New York Times story here