Arts-related real estate markets have paradoxical entry barriers and advantages. There are barriers inherent in the uncertainty of demand, zoning issues and the costs of retrofitting old systems. At the same time, entry barriers are lowered because the space demand is flexible and often requires minimal high-end fixtures and adaptations. Art-making, performance, craft production and exhibition spaces attract users who want to adapt and re-create space in flexible ways. Arts- and culture- related space is an adaptive re-use vehicle well-suited for an uncertain market, precisely because artists value the process of remaking a space as well as a finished product. The.
