Artspace to begin work on Loveland Feed & Grain rehab this summer

LOVELAND — Artspace, the developer behind the rehabilitation of the Loveland Feed & Grain in the downtown area, has raised enough money to begin construction on the project this summer or early fall.

Wendy Holmes, senior vice president for the Minneapolis-based organization that builds arts-related projects across the country, bought the Feed & Grain and an adjacent lot in 2014. It built the Artspace Loveland Lofts on the site to provide 30 housing units with work space and made them available to artists at below-market rents. 

Rehabilitation of the adjacent Feed & Grain stalled as the pandemic hit and the organization pursued financing. An historic project grant — along with federal and state tax credits — has come together in recent weeks to enable the project to get underway, Holmes said.

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A Colorado Community Revitalization Fund grant of $5 million along with $1.88 million in federal historic tax credits and $1.72 million in state historic tax credits are helping close the gap on the $11.6 million project.

When complete, Holmes said, the project will contain just nine residential units with workspace, eight additional art studios along with 6,000 square feet of gallery and public gathering spaces. Unlike the lofts, which were largely residential with a small amount of public space, the Feed & Grain will be the opposite: mostly public and gallery space and a few residential units, Holmes said.

“This project is happening. There’s money behind it,” she said.

The residential units will be made available to people earning 80% to 120% of the area median income. Move-in is expected in late 2023 or early 2024.

The Feed & Grain was established in 1892 and served as a location for farmers to buy and sell grain or have their grain ground into feed or flour. Located on the Burlington Northern Santa Fe Railway, it served as a terminal for moving grain from the region.

Denver-based Ratio Architects LLC is designing the space. Spectrum General Contractors Inc. of Denver is the general contractor on the project.