Inter-Faith Housing nonprofit just learned it will get a $10 million grant for its Midtown development, the Siler Yard Arts and Creativity Center.

Affordable live-work rental project for artists on Siler Road… the idea has been in the works for quite some time. Inter-Faith Housing applied in two other funding cycles. A variety of other costs have been covered by other interested parties, such the National Endowment for the Arts and the city itself, which donated the land and promised to cover the costs of utilities like sewer lines and  water. Creative Santa Fe is a project partner.

The 65-unit development is slated to include performance, exhibition and “micro-retail” space, a shared workshop and a classroom with programs such as entrepreneurship training to help residents transition to sustainable living and find connections to social services.

The grant received on Thursday has always been the missing piece, comprising 60% of the development’s total construction costs – and now it’s in place.
 
The most affordable unit in the development will cost $390 per month, and all the homes and community spaces will be powered by solar energy. Individuals who earn less than 60% of the area median income, about $28,000 or less for an individual, will qualify, and for families, the bar is lowered.