Great news! From the 6/17/13 Hamilton Journal-News:Artspace ready to proceed
By Richard Jones
HAMILTON — Artspace is officially ready to start looking for tenants.
The development team learned last week that the Ohio Housing Finance Agency has awarded low income housing tax credits for an affordable live/work facility for artists in downtown Hamilton, according to Sarah White, director of property development at Artspace, a Minneapolis-based nonprofit real estate developer.
The decision allows the Artspace Hamilton Lofts, an adaptive re-use of the Mehrum-Lindley Block also known as the Hamilton Center at 222 High St., to proceed with its transformation into a mixed-use center with 42 units of affordable housing for artists, and ground floor commercial spaces to support the location of creative businesses in the downtown neighborhood.
The tax credit award is a key element in the approximately $11 million project — bringing $5.7 million in upfront equity to the project’s capital budget.http://www.journal-news.com/news/news/artspace-ready-to-proceed/nYLmM/
September 2006: Hamilton’s Vision 2020 Commission invites Minneapolis-base Artspace to examine local buildings
October 2006: Artspace officials visit five sites in Hamilton and conduct a public meeting to gauge interest
January 2007: Artspace names the the Mehrum-Lindley Block at 222 High St., also known as the Hamilton Center, to be most suited of the five possible sites
April-June 2007: Artspace conducts a full-scale feasibility study
April 2007: The Mehrum-Lindley Block is placed on Preservation Ohio’s Most Endangered Historic Sites’ watch list
September 2007: The Artspace feasibility study concludes that the project would draw enough artists to move the project forward
December 2008: Hamilton Community Foundation provides a $125,000 grant to help finance the process
February 2009: Hamilton City Council approves entering into a contract with Artspace to enter the third phase of the project
March 2010: Artspace Projects secures a purchase agreement for the historic Mehrum-Lindley Block
September 2010: SHP Leading Design releases preliminary floor plans
March 2011: Artspace project is denied funds for $5.9 million in housing tax credits
September 2011: City Council Wednesday votes to set aside $436,500 of federal HOME grant dollars to go toward developing the scaled-back project
June 2012: The Artspace Hamilton Lofts project is granted $2.2 million in Ohio Historic Preservation Tax Credits
December 2012: Ohio Housing Finance Agency denies Artspace’s request for $750,000 in gap financing through low-income tax credits
April 2013: The metal facade that covered the Mehrum-Lindley block since the 1970s is removed