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Artscape announced in August that its primary lender TD Bank was taking steps to place the organization into receivership, at a time when the non-profit owed the bank more than $21-million
Court documents show the organization’s long-term debt reached $31.7-million by the end of 2022, and it ran a $3.7-million deficit from operations that year
After three decades of providing affordable living and studio space for artists in Toronto, Artscape set out to develop a new co-working and creative project called Launchpad. That’s when it all began to unravel
Former employees voiced concern for the future of Toronto’s arts spaces, the people who regularly rely on them, and for the array of services uptaken by residents, and visitors regularly engaged with Artscape properties.