We were happy to find yet another validating article that reinforces one of the strategies we've championed via Create WV. BusinessWeek outlines why artists are a driving force in redevelopment:
The reason is that artists are happy to move where real estate investors aren't prepared to go—crime-ridden inner cities with trashed-out apartments, inside rat-infested buildings that seem destined for the wrecking ball.
Artists aren't looking for the next hot neighborhood, just large, affordable spaces where they can grind, hammer, saw, and generally make a racket in the name of creativity. But they often set the stage for redevelopment, and home buyers who follow their lead can sometimes get in while real estate prices are affordable.
Can this model work in rural, small town West Virginia? It can, and it has. Artists were core drivers in the success of Berkeley Springs and Lewisburg. Small cities such as Cumberland, MD, have used "arts and cultural district" designations to spark artist relocation programs, which in turn have sparked growth in their formerly dying downtown area.
Artists are artists due to many non-financial motivations, but one can't help but think if they positioned themselves as real estate tastemakers they could earn quite a bit as economic development consultants. At the very least, this growing awareness should generate more appreciation, inclusion and support for artists in your community and throughout West Virginia.
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