Marketing Project

[calsig2000]

Hi, I don't know if I am allowed to do this but for a marketing class at Calvin my group has to design a project and market it to potential investors. Before we can implement a plan we have to do our research which, in this case is seeing if people would be interested in a place downtown for the condo people where they can learn new arts and work on projects. This place would have some storage places that people could rent and have all the tools needed to work on their projects so all people have to do would be bring themselves.

[6th Gen local]

I think theres a stretch of Division Ave being made into just what you are asking for. I bet someone else has the specifics.

[snoogit]

SO is this like a place where you can put together that furniture you just bought without waking up the neighbors in your condo?

[Greedo]

Doesn't UICA and the DAAC have something like this available near Division and Sheldon?

[calsig2000]

yes, and other projects you could work on in your own little space with the tools provided so it doesn't use up any of your space at you condo.

SO is this like a place where you can put together that furniture you just bought without waking up the neighbors in your condo?

[starrfish]

Those artist live/work spaces along Division are called Martineau Apartments - It's a redevelopment project by Dwelling Place - they own a lot of the properties along Division. I'm sure someone there would be willing to talk to you for your project.

[GRguy]

I believe UICA has photography studio, clay studio and maybe some drawing classes, but not necessarily a place for whatever you want to build

[GRDadof3]

Those artist live/work spaces along Division are called Martineau Apartments - It's a redevelopment project by Dwelling Place - they own a lot of the properties along Division. I'm sure someone there would be willing to talk to you for your project.

Yes, especially since Calvin College is involved with the Martineau project:

http://72.14.203.104/search?q=cache:zL-Lw2...us&ct=clnk&cd=4

Maybe this marketing project is to see if Calvin should expand this program?

[calsig2000]

This project is for a marketing class and it was brought up as something a group of business students could start up downtown that would be of some use to the people expected to move there/are currently living there without a whole lot of space. My group is currently in the preliminary stages of research trying to figure out what the need, if any, there is for something like this. Coincidentally, the space we would be targeting as the place to create a business is 10,000sq ft. Thanks for bringing up the article, it points us in a new direction.

[civitas]

This project is for a marketing class and it was brought up as something a group of business students could start up downtown that would be of some use to the people expected to move there/are currently living there without a whole lot of space. My group is currently in the preliminary stages of research trying to figure out what the need, if any, there is for something like this. Coincidentally, the space we would be targeting as the place to create a business is 10,000sq ft. Thanks for bringing up the article, it points us in a new direction.

You didn't ask if those who think they would use such a space would also be willing to pay for that use. You will spend money to buy or build the 10,000 SF, including soft costs such as construction interest, attorney fees, architectural fees, insurance, etc. That money will come from a combination of equity (your money) and debt (a lenders money). You'll pay a mortgage payment, utilities, property management, property taxes, etc.

Assuming there is a market for your idea, the users will need to pay you enough money to cover your regular bills for you to break even. Any rental income above the break even amount will be your return on your equity. The return on equity is your reward for your risk. It should give you a much higher return than your savings account at the bank.

You will fully understand the concept of risk when you sign the personal guarantees for the mortgage .

[bwindi25]

When we looked into a "workshop" with power tools, etc. for our condo project, the insurance costs were prohibative. You also potentially run into issues about who is paying for the space and use. Everyone will share the cost of this common element. If there is not initial and continued priority placed on funding this sort of space, it will get the ax later on when a new set of tenents don't see its value and have to pay for something they didn't help create.

[tamias6]

Somthing like this would be very helpful esp. if located in Heartside which seems to be attracting creative people.

[Allison Slater]

I'm going to start taking a look at places in Heartside this week to move to. Granted, I doubt any of the ones I'm looking at will allow me to practise DJing on my 15"s, but if I happen upon something like that: Hell Yes.

[twoshort]

Off topic, but I doubt any multi unit space is going to be real cool with you practicing. I think the Globe has really thick walls/floors/ceilings.

[Allison Slater]

Like I said, I doubt it would happen. =p

I have PC speakers and RCA<->8th Inch cables though, so I can just as easilly use small PC speakers, which are what I use for recording anyways.

[tamias6]

Just wondering. Are there such animals as living spaces with art studios all in the same unit. When many artists, yours truly included, comes up with new ideas to get onto paper, canvas, computer, etc., they want to have Johny-on-the-spot access to their equipment and space to get their ideas out while memory is still fresh. The family and I added an art studio on the back of our home so I can have immediate access to my equipmeent and proper space. But there are way too many artists out there that don't have the carpendry skills and the time to build their own in-home studios.