Roanoke Market Study Supports Up To 67 Affordable Live / Work Units For Artists

In September 2023, Artspace came to Roanoke to conduct a Preliminary Feasibility Visit, the first step on the path to a potential Artspace project.

Artspace is the leading nonprofit developer to the arts in the nation, with over 30 years of experience in multi-use developments centered around long-term affordable live-work space for artists and creatives. They currently operate 58 such properties in 22 states.

Learn more about Artspace. 

BACKGROUND

“ArtspaceROA” is a public-awareness initiative launched in 2023 to aid in the goal of bringing an Artspace project to Roanoke. It has a strong social media presence and growing recognition.

During the course of that visit, Artspace determined that Riverdale was their primary site of interest in Roanoke, and recommended moving to the second step, an Arts Market Study funded by Riverdale Southeast.

Read the Preliminary Feasibility Study.
Read the Market Study.

The Market Study concluded in March of 2024, and the Artspace team presented a Report of Findings at a public gathering in April.

Roanoke’s robust participation in the market study survey impressed the Artspace team, and with the data showing demand for a mixed-use, affordable, arts-centric concept at the Riverdale site, recommended moving to the next step on the path to an Artspace project, the predevelopment phase.

In the report, the team announced that the results demonstrated that there was a market for about 67 units serving residents at 80% of the area median income and below.

The survey data will be used to assess demand for new space and to design new space to suit the unique needs of Roanoke’s creative community and its art-related organizations.

The survey data is available for use by other investors interested in developing housing in the Roanoke Valley. 

Find it at www.roanokearts.org/artspace.