Feasibility Study Offers Market Realities, Options as Project Progresses

Feasibility Study Offers Market Realities, Options as Project Progresses

by Kris Tucker, OAA Board Chair

October 2015

This past year we received a grant from JP Morgan Chase Foundation – as well as generous funding from the Freas Foundation, the Community Foundation of South Puget Sound, and the Nisqually Tribe. This funding enabled us to contract with Artspace Projects, Inc., a national organization specializing in artist live/work projects across the country. We hired them to analyze potential sites, the local market, community support, and financial models.

We have just received that analysis, which confirmed the timeliness and relevance of our efforts –the synergy of our project with the City’s goals as identified in many planning documents – and the challenges of securing the necessary financing.

We are now identifying our options for moving forward. This is a long-term, complex project with many moving pieces. Our group’s next steps include further analysis of funding options, honing in on the space plan and site, and identifying potential developers.

This is an exciting, and significant, time for Olympia Artspace Alliance. We will soon make decisions that lead the organization from pursuing a concept to selecting a model and site that will help us realize our goal.

Our board of directors is a diverse and dedicated group of volunteers that remain committed to developing a facility that will benefit local artists, the arts community, and the Olympia region.

Thank you for your interest in the project and for your support!

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