ARTS & CRAFTS HOLDINGS OFFERS STUDIO SPACE FOR CREATIVES
Arts + Crafts Holdings, led by Aaron Cohen and Craig Grossman, is an active investor and the leading developer on the northern edge of Center City Philadelphia. The company is establishing the Spring Arts district in Callowhill. In 2015, Aaron and Craig partnered to acquire the initial Spring Arts portfolio of projects including 990 Spring Garden, 448 N 10th Street, and 1027 Ridge Ave. They have since grown the company into a team of 15, including construction, project, and property managers overseeing a neighborhood level redevelopment project.
“Arts + Crafts Holdings is dedicated to supporting Philadelphia’s burgeoning visual and performing arts communities by providing complimentary space for engaging installations, events, and fundraising opportunities whenever possible,” says Aaron.
Arts + Crafts reimagines historic buildings, and the urban spaces between them, to create a place and vibrant canvas for the new economy’s entrepreneurs and makers. Since its founding in 2015, the company has acquired nearly 1.6 million square feet across 20 plus assets of commercial, residential, and mixed-use real estate from Callowhill to Spring Garden and from Broad Street to the Delaware River.
Arts + Crafts began working with PIDC when planning to reposition 448 N 10th Street into creative workspaces. “In October 2017, we sought PIDC’s assistance in a tenant improvement loan facility through the Neighborhood Development Loan program to complete tenant improvements required to facilitate the lease up of the development of 448 North 10th Street,” says Aaron. Since completing the building’s construction in 2017, the location has attracted growing businesses and is, in fact, 85% leased. This Spring Arts area houses businesses such as Growth Counsel and Kismet, as well as PIDC clients, MADE Institute and Roy Pitz Brewery.
Currently, Arts + Crafts Holdings is working closely with PIDC on the execution of the RACP grant awarded for the redevelopment of 915 Spring Garden. “PIDC has been essential in helping us navigate to deliver this long anticipated building offering affordable studio space for entrepreneurs and startups,” says Aaron.