Boston Globe  

December 27, 2013

Fort Point artists going from tenants to owners

Geoff Edgers

GLOBE STAFF   

There were cheers and champagne in the lobby of Midway Studios as the news was delivered with a flourish, a black cloth pulled from a board to reveal a message: “We won the bid!”

Keen Development this week agreed to sell Midway Studios, a 200,000-square-foot building in Fort Point, to the residents for $20 million. Midway includes 89 artist studios, a gym, and commercial spaces.

The sale, which hinges on some fund-raising by the residents, would mark a rare victory for Boston artists, many of whom have been displaced by climbing real estate prices and rents over the years.

“It worked out. I can’t believe it,” said Nicholas Ortolino, a resident of the Channel Center Street building since it opened as artist-designated housing in 2005. “My head has been spinning for the last couple of days.” ...

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Photo Credit:  JOSH REYNOLDS FOR THE BOSTON GLOBE

Photo Credit:  JOSH REYNOLDS FOR THE BOSTON GLOBE