401 Richmond arts haven facing huge tax hike

first_img“But the message here is, ‘No, sorry — we don’t care.’ That really speaks to the issue: What do we want the downtown core to become?” Facebook Advertisement Advertisement Advertisement Twitter 401 Richmond, a long-standing downtown haven for dozens of non-profit arts and culture organizations, is grappling with a property tax increase in January likely to cripple the many tenants it has long sheltered from skyrocketing market rents.In a matter of weeks, tenants will see their property tax bill, which they pay to the city separately from their rent to building owner Urbanspace, jump by about 85 per cent. By the end of the current assessment period in 2020, taxes will have nearly tripled from today, threatening the heritage building’s status as a vital cultural hub.“There are those who would look at a company like Urbanspace, which believes in the creative community and has actively supported it for 23 years, and think maybe they deserve some kind of break,” says David Plant, executive director of Trinity Square Video, one of many non-profit artist-run centres in 401 Richmond, a former factory at the corner of Richmond St. and Spadina Ave. Login/Register With: LEAVE A REPLY Cancel replyLog in to leave a comment last_img

Leave a Reply

Your email address will not be published. Required fields are marked *