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UpdatesRent Relief for Akin Studios09/16/2021

Akin Studios, Canada’s largest artist-run provider of shared studio space, is one of our favourite tenants at the Auto BLDG. at 158 Sterling Road. Here they run the Akin Studio Program, which is a unique one-year residency program for new and emerging Toronto-based artists.

As the weeks of the Covid-19 pandemic turned into months, Castlepoint reached out to see how we could assist the artists to continue to work through the pandemic. Paying rent was identified as the most immediate pressing concern, so we made rent-controlled relief effective immediately and for a further three years to provide the artists with peace of mind.

Specifically, measures include a 75 percent reduction in monthly rent for the next three years from September 1 on and for rent that has already been paid during the period of March 1 to September 1st, a credit has been applied to future months. The 25 percent paid over the course of Covid-19 will be issued towards future community programming. And the rent is fixed at a below-market rate.

With the Akin Studio Program on the fourth floor and MOCA on the first, second and third floors, the Auto BLDG. continues to strength the cultural ecosystem of artists within the Greater Toronto Area and has far reaching impacts nationally and internationally. Castlepoint is proud to support these artists!

See this July 29, 2020 article in Retail Insider for more information: https://retail-insider.com/retail-insider/2020/07/castlepoint-numa-sterling-road-landlord-offers-extended-rent-relief-to-artist-tenants-in-toronto/