Minneapolis-based nonprofit Artspace announced last week that they have closed on the property at 315 E. Costilla St., where they will develop a new five-story, 51-unit affordable housing space intended for creatives and artists in Downtown Colorado Springs. As we reported in October, Artspace aims to build a home for creativity in Downtown’s Creative District. The new development was spearheaded by the Downtown Development Authority in partnership with Artspace. The project tackles the affordable housing shortage by attracting creatives who earn 60 percent or less of the median area income (amounting to $33,893 for individuals in the Springs, per the 2020 United States Census).
The building itself will be mixed-use, featuring storefronts, exterior displays for public art, 7,500 square feet for community and commercial space as well as galleries and a rooftop deck. Artspace says the 1- and 2-bedroom apartments will include 100 to 150 extra square feet for studio workspaces and common design elements such as higher ceilings, wider doorways and larger windows.
Construction of the new housing and arts facility is expected to begin this spring and be completed in 2024. Visit artspace.org/colorado-springs for more information