[NewMusic] artist housing

[Damon Smith]

If you pay $1000 a month for 10 years for a crappy apt. which most  
"poor artists" have to, that is $120,000, so you can see those  
numbers working out.

On Oct 3, 2007, at 9:41 PM, George Cremaschi wrote:

>
>
> lance wrote:
>
>> just wish more affordable rental spaces were going in rather than
>> lots of condos.
>
> Well, I completely agree. However, there's a major financial issue
> which prevents that - where does the money come from? In order
> for an organization to build housing stock, it needs a lot
> of money, much of which usually comes from short-term construction
> loans. This means that the units need to be sold in order to
> pay back the loans - rent won't cover it. This is where large
> institutions, like governments, need to get involved. They
> have the financial wherewithal to supply rental units. Needless
> to say, there are currently no plans for any local governments
> to make affordable rental units available for 'low-income' artists.
>
> -George
>
>
>
>
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Damon Smith

http://www.balancepointacoustics.com
http://myspace.com/smithdamon
New solo project:
http://www.myspace.com/damonsmithsolo