Durst daughter, Anita, seeking landlords with a big art; launches program to locate free performance spaces in New York City. - Accessing Real Estate for the Arts AREA

Real Estate Weekly, March 17, 2004

Citing a critical shortage of affordable performance space for grass roots arts organizations in the city, the daughter of New York developer, Douglas Durst, has founded a new non-profit organization, Accessing Real Estate for the Arts (AREA), to find free temporary venues for artists.

"The arts are suffering terribly in New York City because of a lack of affordable space," says Anita Durst, artistic director of Chashama, her theater company.

"AREA will change that by negotiating with key Manhattan landlords to make such space available. We will rehabilitate art and commerce through short-term occupancies, while at the same time inviting the neighborhood to join us in supporting art and culture by brightening empty corners."

Ironically, Durst's own father recently asked her to vacate Chashama's space at 135 West 42nd Street, in vacant retail stores which she utilized since 1997, to make way for his planned 2.1-million s/f office tower, which The Durst Organization will co-develop with Bank of America Corporation.

However, recognizing Chashama's need to relocate its office and performance space, Mr. Durst has donated two venues to the theater company, one at 201 East 42nd Street and another at 217 East 42nd Street.

Mr. Durst's contribution of unoccupied space, which will be used by a variety of artists to create avante-garde theater performances, prompted his daughter to establish AREA.

In a typical transaction, Ms. Durst says, AREA secures a location, and Chashama acquires the temporary rights to the space, assesses the needs of the art market and the space's physical potential, and then reconditions the space for performance, rehearsal, gallery or studio use.

By "adopting" vacant commercial properties in prime New York City locations, Chashama quickly replaces bare space with a canvas of vibrant art.

Using an early termination option, Chashama's tenancy is of no risk to the landlord and so encourages space donation as a temporary solution to vacancy, stresses Ms. Durst.

The reduced cost of AREA properties allows Chashama to continue offering free and subsidized space.

These premium locations, which simultaneously bring artistic vitality to a neighborhood, would normally be prohibitively expensive and competitive.

"In addition to the economic retention and growth associated with the uses of public performance venues," says Ms. Durst, "AREA benefits neighborhood residents by providing free and low-cost performance and art exhibitions, free rehearsal space, and a place for local artists to exhibit their work.

"The infusion of theatre and cultural activity is a proven neighborhood economic stimulus and occupancy incentive.

"Two excellent New York examples are DUMBO and the Lower East Side. In both cases the presence of an artist community movement helped the areas and their property values to flourish, and brought people back to the neighborhoods."

Already developers are stepping up to the plate, says Ms. Durst. Bruce Ratner, president and chief executive officer of Forest City Ratner, has donated a 30,000 s/f at 234 West 42nd Street. Ms. Durst has also had discussions with other major owners and brokerage companies in the city.

"This is a great opportunity for the real estate and arts communities to work together and to make a difference in the lives of performers and their audiences," says Ms. Durst.