Lately, more and more developers have talked about including artist studio space in their residential projects. The latest group to put that option on the table is Starr Capital, developer of the proposed 17 story luxury condo in downtown Bethesda called The Fairmont that's scheduled to break ground in 2015. The elephant in the room when discussing projects like The Fairmont and the Atlantic Plumbing Project is whether the studio spaces, if not the apartments themselves, would be affordable. Furthermore, how affordable are these studio spaces right now? Let's take a look at some of the pricing on art studio space throughout the D.C. area.
Brookland's newest artist-friendly building has 27 artist studios ranging from 300-625 square feet. It looks like they've finished accepting proposals, but the smaller studios start at $390 a month and the largest spaces top out at $850 a month. All of the spaces have access to the slop sink and restrooms.
The point behind this housing development is that living space and working space are one and the same. Also, if residents make 60% of D.C.'s median income, they can apply for affordable housing apartments. As such, those that qualify will see the price of an efficiency will go down from $1,087 to $970 and a two bedroom apartment will drop from $1,398 to $1,205 per month. This building is predictably full up.
The studio rental rates depend on whether you're a Pyramid Atlantic member or whether you're working independently. As such, hourly rates can be as low as $15 an hour or as high as $90 an hour. There's an Art Gym membership which gives members access during the open hours of 9:00 a.m. to 5:00 p.m. for only $150 a month. While that's a better deal, the hours are limited, the space is shared and there are no attached apartments.
· Condo Developer Talks Plans for Art Incubator Space [BethesdaNow}
· Theater/Apartment Building By 9:30 Club to Start Construction [CDC]