Community Impact

 

When the Working Artists Ventura (WAV) project commences principal construction on February 22, Historic Downtown Ventura will become the first city in the nation to create a $57 million state-of-the-art green community designed for creative people and businesses. In fact,  WAV will stand as downtown Ventura’s most important economic development catalyst in a decade, providing 54 affordable artist housing units, 15 supportive housing units, 13 market-rate condominiums, a gallery/theater space, park space and arts-related commercial space. WAV represents a national landmark that brings together the arts, environmentalism and social justice, all in a fiscally-responsible package.

 

In addition to resolving two, twenty-year-long city efforts to provide affordable live/work space for artists and desperately-needed help for the problem of homelessness in Ventura, the WAV project also embodies the city’s foremost objectives for development:

 

Affordable Housing: 69 units not segregated from, but integrated into a mixed-income neighborhood. Affordable Space for the Arts: 54 units of permanently affordable living & working space for artists, and a theater/gallery available at no cost to the neighborhood. 

 

Help for Ventura’s Homeless Households: Through the revolution of  Supportive Housing, the WAV provides a way out of the cycle of  homelessness for fifteen families.

 

Green Building & Environmental Sustainability: The entire community will be built to the highest standards of environmental responsibility (LEED® certified). WAV is designed to use half the water of other Ventura developments and less than half of the electricity. Because many will live and work on site, the community’s carbon footprint will be dramatically reduced as commuting and traffic congestion is reduced and shared electric and hybrid vehicles conserve fossil fuels.

 

Form-Based Code: WAV is designed to exemplify the city’s new, form-based code and will be the first project constructed under the new guidelines.

 

Smart Growth: The project is a model for the principles of Smart Growth including mixed-use, mixed-income, transit oriented and walkable.

 

Community Empowerment: PLACE has held over 35 public meetings, some attended by over 350 people to shape the vision for the WAV. A  conceptual oversight group (COG) and advisory board have met regularly to discuss the project and the project has been presented and discussed at the DVO, the Chamber of Commerce, the Arts Council, Historic Preservation, the Rotary, Project Understanding, and the Kiwanis Club.

 

Efficiency of Investment: WAV will provide acres of new development at a cost of under $165 per square foot, including upgrades to the street systems, traffic systems, storm water drainage systems, sewer systems and water main.

 

The WAV project will leverage a cash investment by the city into over $57 million of direct investment, most of which represents brand new investment brought into the city. Given national and government statistics, the city’s investment will be multiplied significantly over the life of the project, repaying the city investment many times over.

 

The WAV will create over 300 full-time jobs for years and dozens of permanent jobs in construction, finance and banking, property management, real estate, maintenance, accounting, and the arts. The site will host dozens of small businesses and offer a state-of-the-art technology infrastructure.

 

PLACE will remain the ongoing stewards of the new community. The John Stewart Company will provide expert property management services for the affordable housing, supportive housing condominiums and commercial space. The WAV project will begin occupancy by June of 2009.

 

 

 

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