Victoria arts collective moves closer to purchasing downtown space

A Victoria arts collective has taken a step toward establishing an arts hub on Johnson Street, the Times Colonist reported. The group aims to open the facility by late next summer. A lender has offered to provide up to $6.5 million to finance the purchase of the property located at 722 Johnson Street. [1]

Heidi Bergstrom of X-Changes Gallery, a founding member of the collective, shared details of the financing plan, according to the Times Colonist. Building owners Ian Laing and Tim Quocksister agreed to provide $3 million in equity. The collective will pay back that equity over a 10-year period. [1]

The group has also applied for grants to help finalize the purchase, the Times Colonist reported. Downtown areas often serve as central hubs for public transit, culture, and entertainment within North American cities. [1][2]