LOVELAND – Artspace Loveland Arts Campus, a mixed-use development in downtown Loveland, will break ground Feb. 14, according to a release from Artspace.

A groundbreaking ceremony will be held at 4 p.m on Friday at 130 W. Third St., the site of the historic Feed and Grain building, which will be converted into artist-centric housing.

The $8.9 million project has been in the works in Loveland for more than a year, and will be completed with funding from the Colorado Housing and Finance Authority, the Housing Authority of the City of Loveland, the Erion Foundation, the Bruce and Muriel Hach Family Fund, the Loveland Community Fund of the Community Foundation of Northern Colorado and ArtPlace America, among other public and private contributors.

“The entire community of Loveland has been instrumental in bringing us to this point,´ said Artspace President Kelley Lindquist in a statement.

The project will consist of 30 affordable residential units, studio and gallery space, and an outdoor community space.

The residential units will be reserved for artists whose household income is less than 60 percent of the Area Median Income for Larimer County.

Construction on the residential portion of the project is expected to be complete by the end of 2014, according to the release.

Artspace is a Minnesota-based developer of arts facilities, with 35 projects in operation across the country, and 12 more in progress.