Monday September 19, 2005
This guy came up recently on Artblog, though folks have been chuckling about him for months. He’s an artist/model being used to advertise a condo development in Wynwood. The joke is that (1) he’s not much of an artist and (2) unless he’s a stockbroker of lawyer by day, he’s not going to be able to afford $250,000 for 386 square foot efficiency. And if he can afford it, why’s he using brushes that cost $5 for a 10-pack? Brook, who snapped our picture, says
Update from the heart of Wynwood. That famous photo of the artist with the clean brushes is reproduced as a gigantic banner outside of the sales office here in da hood. Some clever artist(s) have graffitied the banner to add a big X over his mouth and a $ over his eye. I makes me smile everytime I drive by.
We’re biding our time. The cycle or artists moving into a poor neightborhood, attracting the rich, and getting squeezed out by rising rents has been repeated numerous times, even in a city as young as Miami (before lincoln rd it was coral gables). The smart (like Brook) buy early, and reap the benefits. But that doesn’t necessarily mean they get to stay. As high-rise condos go up, property value appraisals do, too, and with them taxes.
Let’s say you own a small apartment building in Wynwood. You see all this development happening , but let’s say you want to keep your rents low for the sake of your tennants.
Well, when your taxes start to go up, you’re essentially forced to raise the rent. Since your building isn’t nice enough to justify the increase in rent, the only option at that point is to sell, because you don’t have the money to kick everyone out and pay out-of-pocked for a 12-month restoration. Wow.
Mayor Many Diaz wanted to do something about it, changing the way appraisals are done to more favor these building owners, but it doesn’t look like it’s going to fly.
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In the late 1990’s, inexpensive rent made it attractive for artists to live in Miami. The real estate boom in recent years has made it difficult for artists to find affordable houses and studios, thus creating a great demand for subsidized studios at such places as Art Center/South Florida. It seems that as soon as they set down roots in one neighborhood and become involved in dynamic relationships with other artist residents, their homes are demolished to make room for condominiums or, more ironically, “artist” loft-type living.