In this episode, we delve into the intricate world of affordable art spaces with CEO of Second Floor Studios & Arts Nichole Herbert Wood. From her beginnings in business economics to her transformative journey into the arts, Nichole shares her insights on the challenges artists face in securing affordable studio spaces. We explore the concept of "creative destruction" and the importance of long-term decision-making in the arts sector. Nichole also introduces her innovative formula for determining true affordability, emphasising the need for community-driven solutions and policy interventions. Join us as we uncover the complexities of balancing passion and practicality in the art world. about the Herbert Affordability Formula (HAF) hereCheck out Second Floor Studios & Arts HereChapters00:00 Nichole's Journey into the Arts06:52 The Importance of Long-Term Decision-Making08:21 The Healing Power of Art09:55 Addressing the Crisis of Affordability17:21 Understanding the Economics of Artist Studios24:31 Defining True Affordability for Artists29:59 Building a Supportive Ecosystem for Artists32:06 The Creative Industries vs. Traditional Arts35:55 The Role of Artists in Society40:13 Challenges in Acquiring Spaces for Artists51:41 Alternative Models for Community-Driven Development59:27 The Herbert Affordability Formula

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