Dumbo has come a long way from its 1970s days, when its industrial lofts attracted artists looking for more space and cheaper rents. Now the neighborhood is a hub for tech and design firms, and its luxe apartments with their views of the New York skyline command rents that make much of Manhattan look inexpensive by comparison.
Rising rents have a tendency to send artists scurrying, and Two Trees Management, the real estate firm that helped make the neighborhood what it is today, knows that better than anyone. Two Trees was there at the beginning, and with their Cultural Space Subsidy Program, they are determined to make sure art still has a home in Dumbo.
According to an article in the Observer, Two Trees has selected nine artists to receive subsidy grants for below-market workspaces in Dumbo, as well as the pioneering New York nonprofit arts organization Art in General. (more…)