UPDATED: Artscape-owned properties to be part of receivership; managed properties to stay
Why It Matters
Almost 400 tenants have been waiting for updates since the receivership was announced in September. This is the first time tentative plans for various properties have been shared in detail.
Artscape stakeholders now have their first real idea of what the future of the non-profit developer will look like as it enters receivership.
Chief Operating Officer Kelly Rintoul wrote in her latest letter to the community that Artscape-owned units would be included in the receivership, giving the new owner the legal ability to sell them, but the properties Artscape manages would be excluded.
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