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Client profile

Artscape is a not-for-profit urban development organization that makes space for creativity and transforms communities. They retained Altus Group’s Economic Consulting to provide an economic impact study for the proposed Artscape Launchpad project at Queens Quay and Jarvis St. in the City of Toronto’s Waterfront District.

Challenge

The core of Artscape’s work focuses on developing real estate projects, programs and services to empower artists and connect them to communities. While conducting research on possible sites for their next development, they required credible research support to help communicate the benefits of this proposal to stakeholders, including financial institutions and appeal authorities.

Services provided

Our technology-enabled expert services enable commercial real estate professionals to connect to the market with greater speed, visibility and efficiency.

Solution

Altus Group formed an innovative partnership with Daniels to bring a new creative entrepreneur centre to Toronto’s waterfront community. Altus Group assessed the economic impact of the proposed site in three rounds. The direct round outlined the jobs and economic activity directly related to the construction of the space.

The indirect roundconnected jobs and economic activity to the supply chain supporting the construction and daily operation of the space and the induced round found jobs and economic activity stimulated by spending on income from the first two rounds. Altus Group provided estimates regarding the total amount of jobs and tax revenue that would be generated if Artscape were to develop the Launchpad on the proposed site.

Results

The economic impact study was completed to a high satisfaction of the client. Our research, paired with 10 years of consultation, research and collaboration involving artists, designers, colleges, universities and arts and culture-focused trade and service organizations, made Artscape Daniels Launchpad possible and helped to turn a concept into reality!

Services provided

Our technology-enabled expert services enable commercial real estate professionals to connect to the market with greater speed, visibility and efficiency.

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Last updated on August 30th, 2019 at 02:20 pm

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