Our Vision
We will make a true art house & creative cauldron that we hope to be an epicenter of culture in Porto. The property is magnificent and good bones for a community hub.
We believe that cities need more third spaces, community hubs, and affordable accommodation for local artists, so our intention is to create just that. We have already established ourselves an hour away at the Garden, we have a growing team, and are ready to play.
Our Two-Part Plan
1. Artist Co-Living
Top Floors
Reserved for longer-term, local artists as stewards of the space who would receive a subsidized (old-porto-prices) rent to make it possible for Portuguese artists to afford to live in their heritage arts district again.
Middle Floors
Bedrooms & common spaces focused on international artists, shorter term (maybe 1-3 months), at higher rates, with a focus on the intersection of art, technology, and nature.
Ground Floor
We're still playing with different ideas for the downstairs, given the lack of natural light and unique beauty of the granite. It could be atelier spaces to begin with.
2. Art × Hacker × Spa Concept
Our concept for the backyard is a tea house + workshop space + spa. Nothing too fancy, tasteful, artistic, and financially inclusive. Idea would be minimal staff (likely 1-2 people) and a focus on the spa elements (sauna, outdoor shower, hot tub, cold plunge) being an attractor, as well as to encourage embodiment.
Financial Proposal
Base Offer
- Monthly rent: €7,000
- €2,000 of monthly rent allocated to future purchase price
- Example: Over 4 years, €96,000 would be deducted from final purchase price
Timeline
- Nov & Dec 2024: Contract negotiation and finalization
- January/February 2025: Begin renovations
- May 1st, 2025: Rent begins & grand opening celebration
Proposals
Suggestion 1: Rent-to-Buy
A straightforward path to ownership:
- Lock-in purchase price now
- Monthly rent contribution to purchase
- 20% profit sharing from non-room-rental activities (if additional capital costs are agreed upon)
Suggestion 2: Capital Investment Partnership
You provide capital investment for improvements:
- Portion of rent allocated to capital improvements
- 20% profit sharing from non-room-rental activities
