Artisan's Asylum Futures: First Launch

1. A2 FUTURES The next evolution of an amazing place we like to call home December 20, 2018

2. AGENDA Goals Context Opportunity Trade-offs Next Steps Discussion

3. GOALS Formally launch our search Create shared context of the search Generate some aspirational thinking

4. 1.CONTEXT • Artisan’s Asylum’s lease with current landlord ends August 31, 2021 • Efforts to extend our lease on current terms have not yielded results • Longest possible extension would be 2 years, to August 31, 2023 • In two and half or in four and a half years, Artisan’s will need to move  * Artisan’s current monthly rent obligation is $63,000 all in, or about $750,000 per year ($19/sf triple net). ORGANIZATION

5. 1.CONTEXT • New zoning identifies 10 Tyler Street within a “Fabrication” overlay • Fabrication overlay will enable commercial buildings to reach 4 stories • Landlord has signaled that 10 Tyler Street is nearing “end of useful life.” • Landlord has signaled that 10 Tyler Street is likely to be redeveloped in 2023 PROPERTY

7. 1.CONTEXT • Multiple competing development projects happening across Somerville • 1.3M of commercial property development coming online over next 5 years • Existing plan has a 5 percent for the arts requirement built in, or 65,000 sf • Phase 1 of Union Square completed in 2021, ~800,000 sf commercial development • Property values and rent are expected to increase significantly after this • Construction moves to Phase 2, additional 500,000 sf of commercial development between 2021 and 2023 LOCAL

9. THOUGHTS OR QUESTIONS?

10. 2.OPPORTUNITY Build what we need, build what we want – from the ground up • Studios • Shop space, equipment • Infrastructure • Amenities CAPACITY

11. 2.OPPORTUNITY • Education • Demonstration • Public engagement PROGRAMING

12. 2.OPPORTUNITY • Economic • Educational • Cultural • Ecosystem IMPACT

13. 2.OPPORTUNITY • Non-paying studios • Non-paying members • Excess idle equipment • Aged and failing equipment • Unhealthy habits REBOOT

15. 3.TRADE OFFS • Location and community • Size and profitability • Cost and affordability

16. 3.TRADE OFFS • Partnerships • Program • Requirements

18. 4.ROADMAP 1. Develop shared vision • Identify viable options • Begin fundraising, partnerships • Draft business budgets • Develop build-out estimates

19. 4.ROADMAP 2. Secure lease agreement • Engage architect • Establish build-out timeline • Refine build-out budget

20. 4.ROADMAP 3. Build-out and fit-up • Secure contractor • Secure permits • Complete 75 percent of fundraising • Mechanical, electrical etc • Carpentry, finishes etc • Secure CO

21. 4.ROADMAP 4. Move • Pack existing location • Move to new location • Bring systems online

22. 4.ROADMAP 5. CELEBRATE HELL YEAH!

23. WHAT ARE YOUR PRIORITIES?

24. WANT A SNEAK PEAK? A LIVE OPTION

25. JOY STREET ARTISTS SOMERVILLE ARTFARM BRICKBOTTOM ARTS FITCHBURGH STREET

34. SAMPLE DETAILS 70,000sf $18.25sf 10 year lease 5 year renewal option $1M fitup allowance

35. RISKS Short-term development timeline Need to sublet current home $2M fundraising requirement $106,000mo rent liability Increased utility, CAM expenses Uncertain option after 10 years

36. HERE WE GO! THANK YOU

Artisan's Asylum Futures: First Launch

Artisan's Asylum Futures: First Launch

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