Monday, September 01, 2008

BBJ: More Artists to Loose Spaces to Goldman and Archon

Paint brush: Artists stand to lose Fort Point space
Boston Business Journal - by Michelle Hillman Boston Business Journal

Seventy Boston artists and 20 small businesses are in danger of losing commercial studio space in the most recent clear-out of tenants by Goldman Properties and the Archon Group LP.

The artists’ leases at 319 A St. and 337 Summer St. in the Fort Point Channel neighborhood will expire in November. Despite letters from residents and pleas from community groups, the artists will be the latest wave of tenants forced to flee the arts enclave unless a deal is worked out to extend the leases.

Goldman Properties did not respond to calls for comment. Archon ­— the real estate arm of The Goldman Sachs Group Inc. ­— also did not respond to inquiries.

About 90 artists have moved out of the neighborhood since Archon/Goldman purchased a 17-building warehouse portfolio from Boston Wharf Co. three years ago. A year later, Goldman/Archon relocated tenants out of 316-322 Summer St. because they planned to redevelop the buildings into residential space. Those buildings were subsequently sold and remain vacant today.

Michelle Hillman can be reached at mhillman@bizjournals.com

No comments:

Post a Comment