TRANSPLANTING ARTISTS

A typical scenario: Artists move into a derelict section of town because it’s cheap. They fix it up, the area becomes cool and rents skyrocket as those with money move in to soak up the atmosphere. “In a number of U.S. cities, they are actually now implanting artists (much the way greenery is replanted on polluted soil), knowing that a funky demimonde will attract business even to disaster areas. To keep the artists there, they have evolved non-profit holding companies on 15- to 30-year horizons.” – The Globe and Mail (Canada)