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.

UPDATED: Artscape crowdfunds for operational funding as receivership deadline shifts to October

Why It Matters

After failing to receive offers for its $22.5 development, Toronto Artscape is insolvent and in receivership. Hundreds in the arts community could lose access to premium spaces and sustainable industry support.

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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.

Private businesses can be converted into co-ops ⁠— with enough support

Why It Matters

Ninety-eight per cent of Canadian businesses have fewer than 100 employees, making them ideal candidates for co-operative models. But entrepreneurs who’ve made the leap to collective ownership say more support and education is needed.

Metal detectors, social workers and naloxone: how Canadian libraries are responding to communities in crisis

Why It Matters

Libraries are increasingly having to deal with complex social issues such as homelessness, poverty and addiction as Canada’s existing safety nets strain under the weight of pandemic fall-out and austerity. However, libraries aren’t prepared to become a catch-all solution for systemic problems.