When the real estate bubble popped in 2008, hundreds of commercial spaces became vacant. Since 2005, the non-profit arts council has given more than 1,000 artists temporary residency in 20 under-used, publicly owned spaces. Cross said she has seen much of the same. But at a time when vacant space is amply available but expensive to rent or purchase, some of the most innovative uses have come from the arts community. In 2006, Mayor Michael Bloomberg called the creative sector the “heart and soul” of New York City. Nonprofit groups and for-profit projects have found that transforming these empty spaces into unusual, temporary artistic creations presents a viable solution that works equally well for artists, landlords and the city as a whole. But some renters pay much more than that. The organization takes vacant commercial spaces and offers them to artists for temporary use.
Definition of VACANCY
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