The August edition of the Advocate came off the printer this week and should be arriving on your door sometime soon. It includes a Q&A with Zad Roumaya, the developer of Buzz Lofts (which is 100 percent occupied, by the way). Roumaya worked to get the Lakeview Shopping Center rezoned to make way for a residential-over-retail/office development. That project never got off the ground because of a lack of financing.
But Roumaya recently announced that Artspace has hired him as a consultant because the nonprofit real estate developer is considering Dallas for its next live/work project. Artspace, which started in Minneapolis in 1979, typically reuses old buildings in urban areas to create affordable, multi-family housing for artists. The developments also include space for nonprofit arts organizations.
Once Artspace invests in a development, the organization stays on to manage and foster the property. As of last year, Artspace had 22 properties, including the Elder Street Artist Lofts in Houston and the National Hotel Artist Lofts in Galveston. The developer had another 14 properties in development last year.
Roumaya, who lives in Lakewood while he builds a home in Little Forest Hills, says he is helping Artspace identify neighborhoods and properties that might work for what they do.
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