Toronto’s Centre for Social Innovation to sell Annex coworking space; cites rising interest rates, downturn in coworking revenue

Why It Matters

Rising interest rates are making it more difficult for non-profit landlords to hang on to existing properties or create new ones, reducing the availability of commercial space for charities, non-profits and social entrepreneurs.

Artscape tenants receive letter with first details of potential future for developments

Why It Matters

Since receiving a 30-day extension on its receivership until October, Artscape has been quiet about the future. Rintoul’s letter suggests mortgage owners will experience minimal changes, but residential and commercial leases may change hands.

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Housing hot button: Should your foundation divest from residential REITs?

Why It Matters

For endowed foundations, where they invest has the potential to boost their impact beyond their granting — or work at cross-purposes with it. More information would help foundations make informed decisions.

Cash crunch forces Toronto’s Artscape to list newly-built Launchpad for $22.5 million as workers seek to unionize

Why It Matters

The COVID pandemic has been tough on many organizations that own real estate, including non-profit organizations and arts venues. Experts say Artscape’s sale may result in yet another loss of space for Toronto’s arts community.